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BDO signs an agreement to acquire Citigroup's thrift banking arm in the Philippines
MANILA, Philippines – BDO Unibank, the country’s largest bank in terms of assets, said it has signed an agreement to acquire Citigroup’s thrift banking arm in the Philippines.
In a disclosure to the Philippine Stock Exchange on Thursday, November 14, BDO said it will acquire Citibank Savings “subject to closing conditions and the approval of the Bangko Sentral ng Pilipinas.”
No other details were provided by the bank, owned by Henry Sy, the Philippines’ richest man
Citibank Savings operates 10 branches in the country, with 8 located in Metro Manila and 2 in Luzon and Mindanao. – Rappler.com
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