JG Summit confirms Robinsons Bank, BPI in discussion for 'potential' deal

ABS-CBN News

Posted at Sep 30 2022 10:19 AM

MANILA - JG Summit Holdings Inc on Friday said it is in discussion with Bank of the Philippine Islands along with its unit Robinsons Retail Holdings Inc for a potential deal with BPI and Robinsons Bank Corp. 

On Thursday, BPI confirmed to ABS-CBN News that it is in talks for a "potential collaboration" with the Gokongwei-led bank after news reports circulated online. 

"Please be informed that the Bank of the Philippine Islands (“BPI”) are in the preliminary stage of discussions with Robinsons Retail Holdings, Inc. and JG Summit Capital Services Corp. on a potential collaboration between BPI and Robinsons Bank Corporation," JG Summit also said in a disclosure to the stock exchange.

Further disclosures will be made as needed, BPI said in a separate disclosure to the stock exchange. 

The Gokongwei group operates Robinsons Bank as well as the licensed digital bank GOTyme along with its Singapore-based fintech partner. GOTyme is expected to become fully operational this year.

Only 6 digital banking licenses were issued by the Bangko Sentral ng Pilipinas. [ONLY 6 https://news.abs-cbn.com/business/08/24/22/6-digital-banks-allowed-to-fully-operate-bsp]

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