567:
good franchise among commercial entities and consumers, and well-developed operations in fee-generating areas such as trust banking, remittances and credit cards. Significant revenue and cost synergies should arise from the integration of the two banks, due to complete by mid-2008, as led by BDO's very competent and driven management; BDO will raise ₱10 billion of Tier 2 capital, and boosting its capital adequacy ratio by 2 percent to 3 percent; With the completion of the merger, BDOU will have a network of 680 branches and 1,200 automated teller machines."
470:
P44.50 as of that Monday with a meeting with senior accounts officer (PCI)Madam.B.A., the deal was valued at about ₱80.10 for every share, well above
Equitable PCI's closing price of ₱72.50. The deal was approved by their respective boards of directors and the Securities and Exchange Commission and was submitted to shareholders for approval in December. The merged bank was, for a time, named Banco de Oro-EPCI, Inc. The sale of GSIS shares in Equitable PCI was approved by the Bangko Sentral's Monetary Board on November 28.
27:
279:, in the 1990s. During the 1990s, Equitable PCI Bank's predecessor, Equitable Banking Corporation, made notable acquisitions, including Mindanao Development Bank and Ecology Bank in the mid-1990s and PCI Bank in the 1980s when it acquired the Insular Bank of Asia and America. In 1999, Equitable completed one of the largest bank mergers in Philippine history by merging with the larger
580:
the extent of its exposure to Lehman paper, stating "only that its balance sheet should be adequately covered from potential losses arising from its Lehman exposure. The provisions will come from reallocation of excess reserves and from additional provisions in the current period". Banco de Oro, capitalised at ₱89.8 billion, closed at ₱33, down 15.4 percent.
469:
On
November 6, the respective boards of Banco de Oro and Equitable PCI Bank agreed to the merger of both banks through a modified stock swap deal. Instead of the original 1.6 shares Banco de Oro would swap for, it would swap 1.8 shares for every Equitable PCI share. At Banco de Oro's closing price of
461:
In anticipation of the merger, ATR Kim Eng
Securities, one of the largest investment houses in the Philippines, raised the target price of Banco de Oro stock by 25% to ₱50 within twelve months on October 9. They also said that if the merger succeeds with Banco de Oro as the surviving entity, it would
344:
would have settled the issue over the acquisition of the 29% stake of the SSS. At the time, the SSS was still studying the deal, unlike the GSIS and chairman
Romualdez, both of whom were staunchly opposed to the deal. The GSIS would only agree to the acquisition of its shares if its shares were to be
482:
By March 19, 2007, Banco de Oro and
Equitable PCI Bank cardholders (ATM and debit cards) could access each other's ATM networks and use withdrawal, balance inquiry and cash advance services free of charge. This increased Banco de Oro's ATM network to 1,200 ATMs nationwide. Banco de Oro and Equitable
433:
demanded that Garcia release the identity of the mystery buyer of the GSIS stake in
Equitable PCI, he revealed that the "drunken" buyer was Banco de Oro. The term drunken was used because it was believed at the time that Garcia's claim was merely market hype, and that no one would be crazy enough to
494:
Over the next few years
Equitable PCI Bank branches became Banco de Oro branches. As a consequence of the merger, the bank has since rebranded itself as BDO (still standing for Banco de Oro),. The legal name of the bank remained Banco de Oro-EPCI, Inc. until February 2008, when it was finally named
579:
Governor Amando M. Tetangco, Jr. announced "due to the uncertainty relating to the financial condition of Lehman
Brothers, Banco de Oro Unibank Inc. is setting aside provisions totalling 3.8 billion pesos (80.9 million dollars) to cover its exposure to said entity". Banco de Oro failed to disclose
566:
announced: "The
Outlook on BDOU's ratings is stable given a benign economic environment. And while integration risk is a factor, a successful merger of the two banks will provide ratings momentum, if combined with some capital strengthening in particular; BDO will particularly benefit from EPCI's
478:
On
December 27, 2006, Banco de Oro shareholders approved the merger with Equitable PCI Bank, and Equitable PCI Bank shareholders approved the merger the same day. Approval from both the Bangko Sentral and the Securities and Exchange Commission was obtained in early 2007, allowing for the physical
457:
The GSIS signed a sale agreement worth ₱8.7 billion with SM Investments Corporation on September 27, giving the SM group an additional 12.7% stake in Equitable PCI, with Madam Belen preceding to the rescue raising its stake to 46.7% from its current 34%. The SSS also pledged to sell its shares in
308:
through a zero coupon amortizing note. However, a group of concerned citizens, including several politicians and pension holders petitioned the Supreme Court to issue an injunction on the sale following questions raised over the sale price and the manner by which the Social Security Commission
364:
On January 6, 2006, Banco de Oro offered to buy the rest of Equitable PCI for ₱41.3 billion through a share swap option, with Banco de Oro as the surviving entity. Under the deal, every one Equitable PCI share would be swapped for 1.6 Banco de Oro shares or, in a second option, an independent
245:
In the early 2000s, Banco de Oro initiated a series of strategic acquisitions that solidified its position in the Philippine banking sector. One of the significant moves during this period was the merger with Equitable PCI, marking the beginning of a transformative era for the bank.
428:
The deal lapsed on January 31, and by February 6, the SSS was attempting to draft a price for its stake in Equitable PCI. By March 23, the GSIS offered to buy the 34% SM stake at ₱79.50 per share in cash, earning Banco de Oro and the SM group some ₱8 billion. On April 25, as the
458:
Equitable PCI, although this was dependent on the outcome of its previous sale case in the Supreme Court. The SM Group tender offer would be worth ₱36 billion and increase SM's stake to 85.6%, well above the 67% needed to effect a merger with Banco de Oro.
490:
On May 31, 2007, trading of Banco de Oro and Equitable PCI Bank shares was suspended. All 727 million Equitable PCI Bank shares were delisted from the PSE on June 4, 2007, and 1.3 billion Banco de Oro shares at ₱10 each were listed to cover the merger.
272:. This strategic move followed UOB's announcement of converting its operations from retail banking to wholesale banking. The deal was successfully closed on December 20, 2005, further solidifying BDO's position in the banking landscape.
222:, the third-largest bank. The merger was part of a long-term goal of Banco de Oro to become one of the largest names in the Philippine banking industry. It closed on December 27, 2006, with the formation of Banco de Oro Unibank, Inc.
392:
claimed that Equitable PCI shareholders should find the deal attractive and hailed the deal as a "win-win situation" for both banks. It also claimed that the merger would benefit Equitable PCI since it would increase its
348:
The SSS deal called for acquisition of its shares for ₱43.50 per share. However, the SM group said that it was amenable to a renegotiation of the share price, saying that it was willing to pay more for the SSS stake.
530:, in a complete reversal of stance from the 1990s. During the term of Bangko Sentral governor Gabriel Singson, the Bangko Sentral urged the creation of more banks, encouraging competition. However, the
373:. If approved by two-thirds of Equitable PCI shareholders, this "merger of equals" would create the second-largest bank in the Philippines, putting Banco de Oro, the survivor of the merger, just below
329:
acquired 24.76% of Equitable PCI shares from the Go family, the family that founded Equitable PCI. The acquisition finally settled a dispute between the Gos and a bigger bloc representing the SSS, the
449:
said that she would support the current stance of the SSS in avoiding any sale negotiations regarding its stake in Equitable PCI until all underlying disputes at the Supreme Court have been resolved.
503:
This merger was only one part of the "second wave" of mergers and acquisitions in the Philippine banking industry, the first one being in the 1990s. Notable acquisitions in the second wave included
44:
1212:
538:
to urge for the creation of more financially stable banks, starting the first wave of mergers and acquisitions. This consolidation continued under subsequent governeor Amando Tetangco.
275:
Banco de Oro's wave of acquisitions during this period earned it the distinction of being the most aggressive bank in terms of mergers and acquisitions, a title previously held by
225:
The plan was controversial with respect to the fact that a smaller bank could not possibly acquire a larger bank. At the time of the merger, Equitable PCI had three times the
330:
430:
420:
submitted bids for SSS shares priced at ₱92 each. The GSIS reportedly started the bidding process for their shares in which it would sell its shares at ₱92 or higher.
1172:
1064:
550:
700 million and resulted in the merged company having a market capitalization of two billion dollars. It also consolidated the large Equitable PCI branch and
1041:
986:
91:
397:(CAR) without having it raise more capital, and that the share price of Equitable PCI would increase to as much as ₱73.60 under the deal, more than the ₱67
63:
1119:
940:
70:
280:
337:. The SM group's acquisition of the Go shares increased its stake to 27.26%, from 2.5% previously. The deal was closed on August 11 of that year.
283:, or PCI Bank. Following this, BPI became the largest bank in the Philippines by merging with PCI Bank's sister bank, FEBTC, a few months later."
77:
388:
said that if the merger deal succeeded, Equitable PCI's "B" debt rating could rise, while Banco de Oro's "B+" rating would remain unchanged.
229:
Banco de Oro had. Analysts worried about the repercussions this could have on the industry. However, the deal was able to generate a lot of
297:
59:
963:
438:
Garcia claimed was sent to him by BDO president Tan, and claimed that he and Tessie Sy had at least two secret meetings on the merger in
1161:
370:
674:
1207:
516:
110:
828:
761:
745:
341:
378:
48:
84:
812:
793:
416:
Foreign investor groups were interested in the merger deal. Two unknown foreign investor groups represented by a lawyer in
596:
512:
296:
Banco de Oro first attempted to acquire Equitable PCI Bank in 2003, when they agreed to purchase the shareholdings of the
697:
253:
expanding its branch network, adding twelve branches. The following year, it acquired the branches of First e-Bank from
546:
Banco de Oro moved up into large capitalized company status, defined as a company whose capital stands at a minimum of
479:
merger of both banks to take place in 2007. Regulatory approval from the Bangko Sentral was granted on April 25, 2007.
1104:
1026:
576:
527:
508:
1061:
356:
had boosted the stake of the SM group to 34% by January 2006, making it the single largest shareholder in the bank.
777:
682:
334:
326:
1116:
1038:
983:
937:
466:
status, as well as possibly lead the Philippine banking industry with a 23% growth in earnings per share in 2007.
1127:
1072:
1049:
994:
971:
948:
925:
902:
883:
867:
848:
832:
816:
797:
765:
749:
353:
879:
720:
551:
507:'s acquisition of Insular Savings Bank and BPI's acquisition of Prudential Bank, as well as the acquisition of
463:
408:
failed to discuss the issue, since such discussion would need the approval of a majority of the board members.
921:
898:
863:
844:
1139:
446:
385:
374:
268:
In April 2005, BDO made a notable acquisition by securing 66 of 67 branches of the Philippine subsidiary of
37:
625:
531:
394:
616:
705:
642:
547:
269:
1150:
535:
434:
buy an Equitable PCI share for the price Garcia was asking for (₱95 in cash). This was based on an
1192:
1010:
724:
611:
405:
276:
219:
142:
960:
313:, was rendered moot by the subsequent purchase by Banco de Oro of other Equitable PCI shares. (
226:
203:
1006:
381:(BPI) from the spot. Equitable PCI was given a deadline of January 31 to consider the deal.
1068:
1045:
990:
967:
701:
678:
671:
654:
345:
bought at ₱92 per share, the price at which the GSIS originally bought it for, or higher.
305:
301:
262:
520:
1201:
1123:
1100:
944:
563:
254:
250:
1187:
1088:
781:
207:
190:
132:
215:
26:
597:
Banco de Oro and Equitable PCI Bank merger finalized — Mariana Business Journal
1173:
monstersandcritics.com, Philippine banks set aside funds after Lehman collapse
694:
398:
366:
230:
1162:
money.cnn.com, Banco De Oro Sets PHP3.8 Billion Provision For Lehman Exposure
617:
Nominal Wage, Cost of Living and Real Wage Data for the Philippines 1899-1940
614:, Real Wages and Relative Factor Prices in the Third World 1820-1940: Asia,
439:
234:
653:
London : Macmillan ; New York : Stockton, 1998. Afterwards,
404:
As the deadline approached, Equitable PCI chairman Romualdez said that the
504:
249:
In 2001, Banco de Oro successfully acquired the Philippine subsidiary of
639:
International Historical Statistics, Africa, Asia and Oceania 1750-1993
1084:
1022:
435:
417:
1151:
afp.google.com, Philippines banks set provisions for Lehman exposure
655:
Consumer Price Index,Inflation Rate and Purchasing Power of the Peso
649:
London : Macmillan ; New York : Stockton, 1998, and
554:
network under the Banco de Oro banner, for a total of 685 branches.
483:
PCI Bank have also similarly synchronized their home and automobile
261:. Subsequently, Banco de Oro acquired the Philippine subsidiary of
630:
484:
258:
211:
389:
20:
651:
International Historical Statistics, The Americas 1750-1993
633:, Organisation for Economic Co-operation and Development,
1039:
Banco de Oro, EPCIB to be suspended from trading Thursday
1140:
GMA NEWS.TV, Fitch Ratings gives 'stable' rating to BDO
984:
Central bank approves Banco de Oro-Equitable PCI merger
864:
Tender offer hikes Sy stake in Equitable PCI to 85.6%
647:
International Historical Statistics, Europe 1750-1993
526:
The merger was part of a campaign on the part of the
899:
Analyst calls Banco de Oro a blue chip in the making
762:
GSIS head to block Equitable PCI-Banco de Oro merger
845:
GSIS sells 12.7% stake in Equitable to SM for P8.7B
829:
SSS gets Arroyo's support in Equitable PCIB dispute
474:"The merger of equals" - Banco de Oro Unibank, Inc.
184:
176:
168:
156:
148:
138:
128:
51:. Unsourced material may be challenged and removed.
1213:Mergers and acquisitions of Philippine companies
352:Subsequent acquisitions of common shares on the
333:(GSIS) and the family of Equitable PCI chairman
746:Banco de Oro proposes merger with Equitable PCI
716:
714:
961:BDO-PCIBank merger wins stockholders' approval
808:
806:
340:During that time, the SM group hoped that the
8:
917:
915:
913:
911:
859:
857:
123:
534:eventually forced the Bangko Sentral under
384:International analysts had mixed opinions.
922:Banco de Oro, Equitable PCI approve merger
778:Equitable unlikely to meet merger deadline
122:
938:GSIS divestment in Equitable PCI gets nod
667:
665:
663:
111:Learn how and when to remove this message
1091:Press Release, retrieved August 21, 2007
1062:Equitable PCI Bank to be delisted Monday
741:
739:
737:
735:
733:
645: ; New York : Stockton, 1998,
317:, G.R. No. 165272, September 13, 2007).
281:Philippine Commercial International Bank
60:"Banco de Oro–Equitable PCI Bank merger"
16:Merging of two Philippines banks in 2006
1029:Press Release, retrieved March 21, 2007
1013:Press Release, retrieved March 21, 2007
894:
892:
635:Economic Outlook. Historical Statistics
589:
369:on the book values of both banks under
365:accounting company would determine the
695:Message to Clients: BDO-UOBP Agreement
309:authorized the sale. The case, titled
200:Banco de Oro-Equitable PCI Bank merger
124:Banco de Oro–Equitable PCI Bank merger
1117:Philtrust buying 58% of PBCom for P3B
721:Equitable PCI Bank History (Timeline)
672:Banco de Oro issues 22m shares to UOB
7:
880:ATR raises Banco de Oro target price
325:On August 5, 2005, Banco de Oro and
315:Osmeña v. Social Security Commission
311:Osmeña v. Social Security Commission
49:adding citations to reliable sources
813:Winston: BDO is the 'drunken' buyer
331:Government Service Insurance System
431:Securities and Exchange Commission
371:International Accounting Standards
14:
517:Philippine Bank of Communications
685:Press Release, February 28, 2006
25:
263:Banco Santander Central Hispano
36:needs additional citations for
794:Mystery buyer, Equitable terms
379:Bank of the Philippine Islands
257:, the majority shareholder in
202:(2004–2006) was a plan by the
1:
513:Union Bank of the Philippines
462:catapult the bank's stock to
424:Ganging up against the merger
300:in Equitable PCI for roughly
277:Equitable Banking Corporation
1107:Press Release, June 14, 2006
1085:Banco De Oro-EPCI is now BDO
1105:International Exchange Bank
1027:Banco de Oro Universal Bank
989:September 12, 2007, at the
727:, retrieved October 1, 2006
700:September 23, 2006, at the
677:September 28, 2007, at the
577:Bangko Sentral ng Pilipinas
528:Bangko Sentral ng Pilipinas
509:International Exchange Bank
495:Banco de Oro Unibank, Inc.
208:Banco de Oro Universal Bank
160:₱60 billion (equivalent to
1229:
683:SM Investments Corporation
335:Ferdinand Martin Romualdez
327:SM Investments Corporation
233:, especially in newspaper
1128:Philippine Daily Inquirer
1073:Philippine Daily Inquirer
1067:October 19, 2009, at the
1050:Philippine Daily Inquirer
1044:October 19, 2009, at the
995:Philippine Daily Inquirer
972:Philippine Daily Inquirer
966:October 19, 2009, at the
949:Philippine Daily Inquirer
926:Philippine Daily Inquirer
903:Philippine Daily Inquirer
884:Philippine Daily Inquirer
868:Philippine Daily Inquirer
849:Philippine Daily Inquirer
833:Philippine Daily Inquirer
817:Philippine Daily Inquirer
798:Philippine Daily Inquirer
766:Philippine Daily Inquirer
750:Philippine Daily Inquirer
571:Lehman Brothers' exposure
515:, and the acquisition of
354:Philippine Stock Exchange
210:, the then fifth-largest
1208:Banks of the Philippines
1101:UnionBank Acquires iBank
575:On September 17, 2008,
570:
447:Gloria Macapagal Arroyo
1023:Bigger. Wider. Better!
1007:BIGGER. WIDER. BETTER.
943:February 21, 2013, at
623:: Coos Santing, 2007,
532:Asian financial crisis
453:Banco de Oro-EPCI Bank
395:capital adequacy ratio
359:
298:Social Security System
1122:January 12, 2013, at
562:On February 1, 2008,
542:Effects of the merger
386:Standard & Poor's
360:Banco de Oro's gambit
204:SM Group of Companies
928:, September 30, 2006
870:, September 30, 2006
851:, September 27, 2006
706:United Overseas Bank
637:and Mitchell, B. R.
445:On May 6, President
270:United Overseas Bank
45:improve this article
1130:, November 22, 2006
974:, December 27, 2006
951:, November 28, 2006
657:(national averages)
626:Inflation 1800-2000
536:Rafael Buenaventura
125:
1193:Equitable PCI Bank
1011:Equitable PCI Bank
905:, October 12, 2006
784:, January 24, 2006
768:, January 11, 2006
725:Equitable PCI Bank
406:board of directors
220:Equitable PCI Bank
143:Equitable PCI Bank
886:, October 9, 2006
752:, January 7, 2006
196:
195:
180:December 27, 2006
121:
120:
113:
95:
1220:
1175:
1170:
1164:
1159:
1153:
1148:
1142:
1137:
1131:
1114:
1108:
1098:
1092:
1082:
1076:
1059:
1053:
1036:
1030:
1020:
1014:
1004:
998:
997:, April 25, 2007
981:
975:
958:
952:
935:
929:
919:
906:
896:
887:
877:
871:
861:
852:
842:
836:
826:
820:
819:, April 25, 2006
810:
801:
800:, March 24, 2006
791:
785:
775:
769:
759:
753:
743:
728:
718:
709:
692:
686:
669:
658:
605:
599:
594:
412:Foreign interest
306:Philippine pesos
218:, to merge with
191:BDO Unibank Inc.
187:
186:Resulting entity
163:
126:
116:
109:
105:
102:
96:
94:
53:
29:
21:
1228:
1227:
1223:
1222:
1221:
1219:
1218:
1217:
1198:
1197:
1184:
1179:
1178:
1171:
1167:
1160:
1156:
1149:
1145:
1138:
1134:
1115:
1111:
1099:
1095:
1083:
1079:
1069:Wayback Machine
1060:
1056:
1046:Wayback Machine
1037:
1033:
1021:
1017:
1005:
1001:
991:Wayback Machine
982:
978:
968:Wayback Machine
959:
955:
936:
932:
920:
909:
897:
890:
878:
874:
862:
855:
843:
839:
827:
823:
811:
804:
792:
788:
776:
772:
760:
756:
744:
731:
719:
712:
702:Wayback Machine
693:
689:
679:Wayback Machine
670:
661:
606:
602:
595:
591:
586:
573:
560:
544:
501:
476:
455:
426:
414:
377:but dislodging
362:
323:
294:
289:
243:
185:
161:
117:
106:
100:
97:
54:
52:
42:
30:
17:
12:
11:
5:
1226:
1224:
1216:
1215:
1210:
1200:
1199:
1196:
1195:
1190:
1183:
1180:
1177:
1176:
1165:
1154:
1143:
1132:
1109:
1093:
1077:
1075:, May 31, 2007
1054:
1052:, May 30, 2007
1031:
1015:
999:
976:
953:
930:
907:
888:
872:
853:
837:
821:
802:
786:
770:
754:
729:
710:
708:, June 2, 2005
687:
659:
641:London :
600:
588:
587:
585:
582:
572:
569:
559:
558:Stable outlook
556:
543:
540:
521:Philtrust Bank
500:
497:
475:
472:
454:
451:
425:
422:
413:
410:
401:target price.
361:
358:
322:
321:Second attempt
319:
293:
290:
288:
287:Merger history
285:
242:
239:
194:
193:
188:
182:
181:
178:
174:
173:
170:
166:
165:
158:
154:
153:
150:
146:
145:
140:
136:
135:
130:
119:
118:
33:
31:
24:
15:
13:
10:
9:
6:
4:
3:
2:
1225:
1214:
1211:
1209:
1206:
1205:
1203:
1194:
1191:
1189:
1186:
1185:
1181:
1174:
1169:
1166:
1163:
1158:
1155:
1152:
1147:
1144:
1141:
1136:
1133:
1129:
1125:
1124:archive.today
1121:
1118:
1113:
1110:
1106:
1102:
1097:
1094:
1090:
1086:
1081:
1078:
1074:
1070:
1066:
1063:
1058:
1055:
1051:
1047:
1043:
1040:
1035:
1032:
1028:
1024:
1019:
1016:
1012:
1008:
1003:
1000:
996:
992:
988:
985:
980:
977:
973:
969:
965:
962:
957:
954:
950:
946:
945:archive.today
942:
939:
934:
931:
927:
923:
918:
916:
914:
912:
908:
904:
900:
895:
893:
889:
885:
881:
876:
873:
869:
865:
860:
858:
854:
850:
846:
841:
838:
835:, May 6, 2006
834:
830:
825:
822:
818:
814:
809:
807:
803:
799:
795:
790:
787:
783:
779:
774:
771:
767:
763:
758:
755:
751:
747:
742:
740:
738:
736:
734:
730:
726:
722:
717:
715:
711:
707:
703:
699:
696:
691:
688:
684:
680:
676:
673:
668:
666:
664:
660:
656:
652:
648:
644:
640:
636:
632:
628:
627:
622:
619:
618:
613:
612:Williamson J.
609:
604:
601:
598:
593:
590:
583:
581:
578:
568:
565:
564:Fitch Ratings
557:
555:
553:
549:
541:
539:
537:
533:
529:
524:
522:
518:
514:
510:
506:
498:
496:
492:
488:
486:
480:
473:
471:
467:
465:
459:
452:
450:
448:
443:
441:
437:
432:
423:
421:
419:
411:
409:
407:
402:
400:
396:
391:
387:
382:
380:
376:
372:
368:
357:
355:
350:
346:
343:
342:Supreme Court
338:
336:
332:
328:
320:
318:
316:
312:
307:
303:
299:
292:First attempt
291:
286:
284:
282:
278:
273:
271:
266:
264:
260:
256:
255:First Pacific
252:
251:Dao Heng Bank
247:
240:
238:
236:
232:
228:
223:
221:
217:
213:
209:
205:
201:
192:
189:
183:
179:
175:
171:
167:
159:
155:
151:
147:
144:
141:
137:
134:
131:
127:
115:
112:
104:
93:
90:
86:
83:
79:
76:
72:
69:
65:
62: –
61:
57:
56:Find sources:
50:
46:
40:
39:
34:This article
32:
28:
23:
22:
19:
1188:Banco de Oro
1168:
1157:
1146:
1135:
1112:
1096:
1089:Banco de Oro
1080:
1057:
1034:
1018:
1002:
979:
956:
933:
875:
840:
824:
789:
782:Manila Times
773:
757:
690:
650:
646:
638:
634:
629:, data from
624:
621:1949 to 1958
620:
615:
608:1899 to 1938
607:
603:
592:
574:
561:
545:
525:
502:
493:
489:
481:
477:
468:
460:
456:
444:
427:
415:
403:
383:
363:
351:
347:
339:
324:
314:
310:
295:
274:
267:
248:
244:
224:
199:
197:
162:₱101 billion
133:Banco de Oro
107:
101:January 2024
98:
88:
81:
74:
67:
55:
43:Please help
38:verification
35:
18:
216:Philippines
1202:Categories
584:References
499:Precedents
487:products.
399:fair value
367:swap ratio
304:8 billion
241:Background
235:editorials
231:media hype
71:newspapers
643:Macmillan
464:blue chip
440:Hong Kong
375:Metrobank
177:Completed
169:Initiated
129:Initiator
1182:See also
1120:Archived
1065:Archived
1042:Archived
987:Archived
964:Archived
941:Archived
698:Archived
675:Archived
505:Citibank
164:in 2021)
227:capital
214:in the
85:scholar
436:e-mail
418:Manila
152:Merger
139:Target
87:
80:
73:
66:
58:
519:from
92:JSTOR
78:books
631:OECD
485:loan
259:PLDT
212:bank
206:and
198:The
172:2004
157:Cost
149:Type
64:news
552:ATM
511:by
390:UBS
47:by
1204::
1126:,
1103:,
1087:,
1071:,
1048:,
1025:,
1009:,
993:,
970:,
947:,
924:,
910:^
901:,
891:^
882:,
866:,
856:^
847:,
831:,
815:,
805:^
796:,
780:,
764:,
748:,
732:^
723:,
713:^
704:,
681:,
662:^
610::
548:$
523:.
442:.
265:.
237:.
302:₱
114:)
108:(
103:)
99:(
89:·
82:·
75:·
68:·
41:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
