Union Bank taking over CitySavings Bank

MANILA, Philippines—Union Bank of the Philippines is set to buy 32-branch thrift bank City Savings Bank, marking a consolidation of the banking interests of the Aboitiz group. In a joint statement, Union Bank and parent conglomerate Aboitiz Equity Ventures announced the acquisition by the former of 99.54 percent of CitySavings for about P5.7 billion. [...]

Posted: January 9th, 2013 in Latest Business Stories | Read More »

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