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On August 5, 2005, the SM Group of Companies and Banco de Oro Universal Bank announced that they have purchased a 24.76% stake of Equitable PCI from the Go family (Equitable Banking Corporation), the family that founded the bank, along with a 10% stake in Equitable CardNetwork. Subsequent acquisitions by Banco de Oro enabled it to gain a 34% ...
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 ...
Bankard, Incorporated was organized by Philippine Commercial International Bank, or PCI Bank on December 4, 1981, as the Philippine Commercial Credit Card, Inc. (PCCCI) to operate a domestic credit card operation. It started full commercial operations in June 1982.
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.
It was the headquarters of Equitable PCI Bank until its merger with Banco de Oro (later known as BDO Unibank) in 2007. [2] Demolition work on the building complex started as early as March 2022, by BDO Unibank. It obtained a demolition permit in December 2021 with JLC Construction as its constructor. [1]
The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks.As of September 30, 2022, [1] there were 45 universal and commercial banks, [2] 44 savings banks, [3] 400 rural and cooperative banks, [4] 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ...
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.