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Oct 27, 2017 @ 18:54

Sorry folks: RCBC says it’s not for sale just yet

 

Fresh rumors that the Yuchengco-owned bank is on the auction block is nothing but fluff.

The Rizal Commercial Banking Corp. (RCBC) has always been rumored to be up for sale, but nothing’s ever really materialized over the past several years. This time, the grapevine churned out an upgraded story: Inquirer’s BizBuzz reported that the Sys and the Ayalas are actually interested to acquire RCBC.

But before anyone can cash in on this rumor, the banks were quick to deny any such discussions. RCBC isn’t on sale, and BDO and the Bank of the Philippine Islands aren’t considering any offer like this.

The three banks were quick to file their respective clarifications at the Philippine Stock Exchange as trading opened, with the separate disclosures posted in succession at 9:30 a.m.

“RCBC is not in talks or discussion with anyone regarding the sale of a majority stake or any merger. Information other than those disclosed by the Bank is purely speculative,” the Yuchengco camp said.

Meanwhile, BDO and BPI said there were “no definite discussions” to this tune.

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