- Notice of the Merger
Notice of Merger
Notice is hereby given to the creditors and depositors of the Bank of the Philippine Islands (“BPI”) and BPI Family Savings Bank, Inc. (“BFSBI”) that the Articles of Merger and Plan of Merger, with BPI as the surviving entity and BFSBI as the absorbed entity, have been approved by the Securities and Exchange Commission effective 01 January 2022. The merger is also in accordance with (a) the approvals of the Board of Directors and shareholders of BPI and BFSBI, (b) the Philippine Deposit Insurance Corporation, and (c) the Monetary Board of the Bangko Sentral ng Pilipinas.
The integration of BPI and BPI Family Savings Bank processes after the merger will start in the first quarter of 2022 and is targeted for completion by the end of the year, the details of which will be included in subsequent announcements to be posted on the One BPI merger information page.
This announcement serves as a notice to all depositors and creditors concerned of the merger of BPI and BFSBI.