BSP approves PBcom’s acquisition of Banco Dipolog

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THE Philippine Bank of Communications (PBCom) announced on Wednesday that the Bangko Sentral ng Pilipinas (BSP) has approved its acquisition of Banco Dipolog Inc. (BDI).

Banco Dipolog adds 13 rural bank branches to PBCom’s network. These are located in various cities across the Visayas and Mindanao, and brings PBCom’s rural bank footprint to 19 branches, following the bank’s earlier acquisition of the Rural Bank of Nagcarlan.

“Expanding our footprint across the country through our acquisition of rural banks allows us to reach underserved and unbanked segments, thus contributing to the development and strengthening of small businesses,” PBCom president and chief executive officer Nina Aguas said.

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