RCBC sold 89% stake in Bankard to PBB Trust

Purchase price yet to be revealed.

According to Maybank Kim Eng, Rizal Commercial Banking Corp disclosed it sold its 89% stake in Bankard , Inc to Philippine Business Bank’s subsidiary, PBB Trust and Investment Center. 

Purchase price and other details have yet to be disclosed. All existing credit card operations of BKD will be assigned and absorbed by either RCB or its subsidiary or affiliate. Technically, PBB Trust will only acquire the listed shell company of BKD. There likely will be a tender offer for the 11% balance of BKD that is publicly owned.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Tokenization of trade assets to bridge financing gap
Blockchain technology could decentralize finance operations and allow easier credit access.
BCA walks the talk on sustainable finance
The Indonesian bank considers the environment and governance in its lending decisions.