Philippines Equitable PCI sells no-frills unit

Philippines
East West Banking Corp, Ecology Savings Bank, Equitable PCI Bank
Mergers & Acquisitions

(Philippines) – The Philippines’ third largest bank, Equitable PCI Bank, will sell its no-frills unit, Ecology Savings Bank, to East West Banking Corp.The two parties have not revealed a sale price.

East West is majority owned by leading investment group Filinvest Development Corp.

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