BDO to acquire Deutsche Bank's trust business in Philippines

BDO Unibank Inc., the Philippines' top lender, said on Monday it had signed a definitive agreement to acquire the trust business of Deutsche Bank AG, Manila Branch.

 

The deal includes Deutsche Bank's trust, fiduciary and investment management activities in the Philippines, BDO said in a filing to the stock exchange.

 

The transaction is subject to closing conditions and regulatory approvals, BDO said.

 

Financial and other details of the deal were not disclosed. – Reuters