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The current bank is the product of the Banco de Oro–Equitable PCI Bank merger.The boards of both banks agreed to merge on December 27, 2006. The new BDO Unibank retained the ticker symbol of the old Banco de Oro, and 1.3 billion BDO shares were issued in exchange for 727 million Equitable PCI Bank shares.
The Banco de Oro-Equitable PCI Bank merger (2004–2006) was a plan by the SM Group of Companies and Banco de Oro Universal Bank, the then fifth-largest bank in the Philippines, to merge with Equitable PCI Bank, 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 ...
This peg was maintained until 1930 when Peru left the gold standard and established an official rate of S/o 2.5 = US$1, a rate which remained until 1946. In 1933, banknotes were issued once more denominated in soles, now called soles de oro. This name also appeared from 1935 on coins, when silver was replaced by base metal.
The sol or sol de oro from 1863 to 1985, at 1 sol = 10 reales. The inti from 1985 to 1991, at 1 inti = 1,000 soles de oro . Due to the bad state of economy and hyperinflation in the late 1980s, the government was forced to abandon the inti and introduce the sol as the country's new currency. [ 6 ]
On January 6, 2006, Banco de Oro Universal Bank submitted a merger offer to the bank, with Banco de Oro as the surviving entity. Under the proposed offer, Banco de Oro would swap 1.6 of its shares for every 1 share of Equitable-PCI (The merger occurred, but BDO Shareholders were to swap 1.8 BDO shares for every EPCI share).
The PSE Financials Index, is the main stock market index of the Philippine Stock Exchange for banks and financial entities. This index is one of the PSE indices also home to companies listed on the PSE Composite Index, namely Banco de Oro Universal Bank, Bank of the Philippine Islands, and Metrobank.
BDO Network Bank (BDO NB), formerly known as One Network Bank (ONB), is a rural bank in the Philippines.Established in 2004 through the consolidation of Network Rural Bank of Davao del Sur, the Rural Bank of Panabo of Davao del Norte, and the Provident Rural Bank of Cotabato, ONB is the largest rural bank in the Philippines in terms of assets, with a network of 96 branches in Mindanao, 1 ...
BancNet was founded on July 17, 1990, as the Philippines' second ATM consortium when the ATMs of eight banks, PCI Bank (later Equitable PCI Bank, now Banco de Oro), Security Bank, Chinabank, RCBC, Allied Bank (now part of PNB), Metrobank, International Exchange Bank (now part of UnionBank) and CityTrust Banking Corp. (now part of BPI) formed BancNet.