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                    [ArticleID] => 378529
                    [Title] => BSP okays BPI divestment in FEB Savings Bank
                    [Summary] => 



The Bangko Sentral ng Pilipinas (BSP) has approved the sale of the Bank of the Philippines Islands (BPI) owned Far East Savings Bank Inc. (FEB) to an JTKC Equities Inc., Surewell Equities, Inc. and Star Equities Inc.


In a disclosure to the Philippine Stock Exchange (PSE), BPI said it has sold 100 percent of its equity holdings in FEB Savings.


"The said BSP approval was the last act needed to complete the transaction," the Ayala-led bank’s letter stated.


The new owners will rename the FEB Savings into Sterling Bank of Asia Inc.


                    [DatePublished] => 2007-01-06 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1480108
                    [AuthorName] => Ma. Elisa Osorio 
                    [SectionName] => Business
                    [SectionUrl] => business
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FAR EAST SAVINGS BANK INC

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                    [ArticleID] => 378529
                    [Title] => BSP okays BPI divestment in FEB Savings Bank
                    [Summary] => 



The Bangko Sentral ng Pilipinas (BSP) has approved the sale of the Bank of the Philippines Islands (BPI) owned Far East Savings Bank Inc. (FEB) to an JTKC Equities Inc., Surewell Equities, Inc. and Star Equities Inc.


In a disclosure to the Philippine Stock Exchange (PSE), BPI said it has sold 100 percent of its equity holdings in FEB Savings.


"The said BSP approval was the last act needed to complete the transaction," the Ayala-led bank’s letter stated.


The new owners will rename the FEB Savings into Sterling Bank of Asia Inc.


                    [DatePublished] => 2007-01-06 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1480108
                    [AuthorName] => Ma. Elisa Osorio 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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BSP okays BPI divestment in FEB Savings Bank

By Ma. Elisa Osorio  | January 6, 2007 - 12:00am

The Bangko Sentral ng Pilipinas (BSP) has approved the sale of the Bank of the Philippines Islands (BPI) owned Far East Savings Bank Inc. (FEB) to an JTKC Equities Inc., Surewell Equities, Inc. and Star Equities...

Business