EastWest remains a minor player despite purchase — ATR KimEng

The Gotianun-led bank last week won the bid for AIG’s Philam Savings Bank and two other related businesses — Philam Auto Finance and shell company PFL Holdings Inc. — creating a bank that now has combined assets of P63 billion.

ATR KimEng Securities Inc., however, said the deal will not allow EastWest to pull ahead in a race for the largest assets.

The local banking sector remains dominated by Banco de Oro Unibank Inc., Metropolitan Trust & Co. (Metrobank) and Bank of the Philippine Islands (BPI), which collectively corner 40% of the industry’s resources as of the end of the third quarter last year, it said.

Read Full Story

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>