CitySavings signs SPA to acquire Philippine Resources Savings Bank

CITY Savings Bank Inc., the thrift banking arm of Union Bank of the Philippines, has signed a share purchase agreement (SPA) with the ROPALI group to acquire 100 percent of the common shares of Philippine Resources Savings Bank (PR Savings).

“This acquisition will expand our mass market reach, consistent with our vision to promote inclusive growth in the country,” said UnionBank president and incoming CEO Edwin R. Bautista.

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