United Coconut Planters attract local banks

The 12th largest bank by assets in the Philippines attracts interest from domestic banks ahead of a planned privatisation.

United Coconut Planters Bank, the 12th largest bank by assets in the Philippines, is set to attract interest from local banks should the government put its stake in the bank up for auction.

According to Philippine media reports citing company officials earlier this year, the government is planning to auction its stake and the bank has hired Standard Chartered to conduct a feasibility study.

Banco de Oro BDO, the biggest bank in the Philippines, could be interested.

In a recent interview with FinanceAsia in Manila, Jose Sio, chief finance officer of SM Investments, which has a 47% stake in BDO, said...

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