Guide on the
PHILIPPINE BANKS ACQUIRED – Here is an updated list of the banking institutions that actually acquired some of the banks in the country.
Banks are among the entities with the most numbers in the Philippines. They come in different types and serve different purposes. Some banks managed to keep their assets soaring while others either closed, were acquired by othe banks, or merged with other banking institutions.
Amid the many universal banks in the Philippines as well as merged banks that continue operation, there were banking entities that were acquired by their fellows in the country. In many cases, the acquisition was done for the purpose of expanding reach or scaling up the operations fast.
Many of the biggest banks in the Philippines acquired some of their fellow banking institutions in the country. Here are the Philippine banks acquired by the other banking firms in the country:
- 1st E Bank acquired by Banco de Oro
- Acme Savings Bank acquired by the Sy Group of Companies and renamed Banco De Oro
- Banco Santander Central Hispano acquired by Banco De Oro
- Capitol Development Bank acquired by RCBC and became RCBC Savings Bank
- Dao Heng Bank acquired by Banco de Oro
- Family Savings Bank acquired by BPI and renamed to BPI Family Savings Bank
- Far East Bank And Trust Company acquired by Bank of the Philippine Islands
- GE Money Bank acquired by Banco de Oro
- Green Bank of Caraga acquired by EastWest Banking Corporation
- International Exchange Bank acquired by and merged with Union Bank of the Philippines
- Keppel Bank acquired by GE Capital Finance
- Orient Commercial Banking Corporation (52 of its branches were taken over by Allied Bank)
- Philippine Postal Savings Bank (PostBank) acquired by Landbank in 2018 and became Overseas Filipino Bank
- Philippine Resources Savings Bank (PR Savings Bank) acquired by CitySavings Bank
- Standard Chartered Bank Philippines acquired by East West Banking Corporation
These banks were listed by Bangko Sentral ng Pilipinas (BSP). It is the main government bank in the country that heads the operations of all the banks.