BPI to sell its entire 15% GoTyme Bank stake back to the Gokongweis

  • 📰 PhilstarNews
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 94%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Zobel Family banking unit BPI disclosed that its board of directors has approved the sale of BPI’s stake in GoTyme Bank to a subsidiary of JG Summit and a company called Giga Investment Holdings Pte. Ltd. at a price of P1.20/share.

. The sale will raise approximately P902 million for BPI, and resolve concerns that BPI had over “any potential conflict of interest” created as a result of the “significant overlap” of the product offerings between GoTyme and BPI. GoTyme is one of just six banks to receive a digital banking license from the BSP.There’s been a lot of negative press about digital banks in recent weeks, with the BSP announcing that only two of the six licensed digital banks are currently profitable.

DigiPlus declared a cash dividend of P0.18/share and teased that its FY23 net income of P4.1 billion, an... This week is scheduled to be a quiet one on the PSE, with only the event of note being the Cebu Landmasters FOO...Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines