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× BDO unit buying Rural Bank of Pandi

MANILA, Philippines -- The rural banking arm of leading local lender BDO Unibank has signed a deal to acquire 52-year-old Rural Bank of Pandi Inc. (RBPI), strengthening its footprint among small and medium enterprises (SMEs) in Bulacan.

With this transaction, BDO's One Network Bank Inc. (ONB) is seen to establish a "stronger presence in the province and fast track its expansion in Central Luzon…