Full List of Philippine Merged Banks
PHILIPPINE MERGED BANKS – Here is a full list of the merged banks in the Philippines.
In the history of banking in the Philippines, there were hundreds of banks that made names but some are no longer existing now. Some people may be curious about their cloosure.
Some people may be thinking about what happen to Insular Bank of Asia, Urban Bank, Allied Bank, United Overseas Bank, Green Bank, and Philippine Postal Savings Bank which are among the prominent banks.
Most of these banks did not actually totally stopped the operation. They joined the list of Philippine merged banks after they were acquired by other Philippine commercial banks and Philippine Savings banks.
Based on Wikipedia’s list, there are more than twenty(20) Philippine merged banks. Here is a list of them and the company that acquired some of them:
- Acme Savings Bank (acquired by the Sy Group of Companies and renamed Banco De Oro)
- Bank of Cebu
- International Exchange Bank (acquired by and merged with Union Bank of the Philippines)
- Insular Bank of Asia and America (merged with Philippine Commercial International Bank)
- Mindanao Development Bank (merged with Equitable PCI Bank)
- Ecology Bank (merged with Equitable PCI Bank)
- Family Savings Bank (acquired by BPI; renamed to BPI Family Savings Bank)
- AIG Philam Savings Bank (merged with East West Banking Corporation)
- Keppel Bank (acquired by GE Capital Finance)
- Equitable PCI Bank (merged with PCI Bank forming it and now merged with Banco de Oro)
- Philippine Commercial International Bank (merged with Equitable PCI Bank and now merged with Banco De Oro)
- Urban Bank (forced to close then merged with Export and Industry Bank)
- Allied Bank (merged with Philippine National Bank)
- Capitol Development Bank (acquired by RCBC and became RCBC Savings Bank)
- Banco Filipino
- Export and Industry Bank
- American Express Bank (renamed BDO Elite Savings Bank)
- Banco Santander Central Hispano (Philippine subsidiary acquired by Banco De Oro and renamed BDO Private Bank)
- Dao Heng Bank (acquired by Banco de Oro)
- 1st E Bank (Philippine Branches acquired by Banco de Oro)
- United Overseas Bank (66 out of 67 Branches merged with Banco de Oro)
- GE Money Bank (acquired by Banco de Oro)
- Green Bank of CARAGA (acquired by EastWest Banking Corporation alongside FinMan Rural Bank, Inc. in 2013 and became EastWest Rural Bank, Inc.)
- Orient Commercial Banking Corporation (forced to close; Allied Bank took over 52 branches)
- Standard Chartered Bank Philippines (Philippine retail banking business was acquired by East West Banking Corporation in 2016)
- Philippine Resources Savings Bank (PR Savings Bank; acquired by CitySavings Bank in 2018)
- Philippine Postal Savings Bank (PostBank; acquired by Landbank in 2018 and became Overseas Filipino Bank)
- Planters Development Bank (merged with Chinabank)
Based on the list, most of these Philippine merged banks were acquired by Banco de Oro or more commonly called BDO. It is now of the biggest banks in the country.
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