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BPI secures BSP approval to fully divest in GoTyme
The Philippine Star
|October 13, 2024
Ayala-led Bank of the Philippine Islands (BPI) has received formal approval from the Bangko Sentral ng Pilipinas (BSP) for the sale of its 15 percent stake in GoTyme Bank Corp.
The transaction, which transfers BPI's stake to GoTyme Financial Pte. Ltd. and Giga Investment Holdings Pte. Ltd., was approved by the central bank through its Resolution 1145 on Oct. 3.
BPI received the notice of approval from the BSP on Oct. 9, effectively granting BPI the green light to exit its investment in the digital banking venture.
“After the sale, BPI will have no shareholdings in GoTyme Bank,” BPI said.
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