Close  

BDO seals rural bank partnership with Archipelago

/ 10:59 AM May 17, 2019
BDO seals rural bank partnership with Archipelago

A trader walks in front of the logo of the Philippine Stock Exchange (PSC) in Manila. AFP FILE PHOTO / JAY DIRECTO

MANILA, Philippines–Leading Philippine lender BDO Unibank has completed a deal to bring in a unit of Singapore-based private equity firm Archipelago Capital Partners Pte. Ltd. as a strategic investor in its Davao-based rural bank subsidiary One Network Bank Inc. (ONB).

In a disclosure to the Philippine Stock Exchange on Friday, BDO said it had completed a transaction to sell a 15-percent stake in the country’s largest rural bank to Archipelago unit Osmanthus Investment Holdings Pte. Ltd.

ADVERTISEMENT

BDO expects the partnership with Osmanthus to further strengthen ONB’s strategic foothold in the microfinance business, thus, contributing to financial inclusion.

As a private equity firm, Archipelago Capital focuses on growth opportunities and high-potential small and middle market businesses, especially in the consumer, financial services and niche industrial sectors, in Southeast Asia. Its investment philosophy is centered on “active” ownership, with value driven through “creativity in strategy and excellence in execution in all its investments.”

ONB became a BDO subsidiary in 2015 when the latter bought a controlling stake from the Consunji family for some P6.67 billion. (Editor: Jonathan P. Vicente)

RELATED STORY

BDO teams up with Archipelago Capital in ONB

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: BDO, Business, local news, partnership, Philippine news update, PSE
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.