{
    "success": true,
    "data": {
        "id": 1276177,
        "msgid": "hsbc-to-buy-pcib-for-us22m-1447893297",
        "date": "2000-11-28 00:00:00",
        "title": "HSBC to buy PCIB for US$22m",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "HSBC to buy PCIB for US$22m MANILA (AFP): Hongkong and Shanghai Banking Corp. Ltd. (HSBC) said Monday it would acquire PCIB Savings Bank of the Philippines for 1.1 billion pesos (US$22 million) in cash. The bank, a unit of Equitable PCI Bank, has assets of 1.4 billion pesos and 16 branches around Manila, HSBC said in a statement. The transaction was expected to be closed next month, with the bank to be renamed HSBC Savings Bank (Philippines) Inc.",
        "content": "<p>HSBC to buy PCIB for US$22m<\/p>\n<p>MANILA (AFP): Hongkong and Shanghai Banking Corp. Ltd. (HSBC)<br>\nsaid Monday it would acquire PCIB Savings Bank of the Philippines<br>\nfor 1.1 billion pesos (US$22 million) in cash.<\/p>\n<p>The bank, a unit of Equitable PCI Bank, has assets of 1.4<br>\nbillion pesos and 16 branches around Manila, HSBC said in a<br>\nstatement.<\/p>\n<p>The transaction was expected to be closed next month, with the<br>\nbank to be renamed HSBC Savings Bank (Philippines) Inc.<\/p>\n<p>It would operate as a separate entity from HSBC's commercial<br>\nbanking operations in the country, and focus on financial<br>\nservices to personal and middle-market customers.<\/p>\n<p>\"PCIB's branch network provides an excellent platform for us<br>\nto expand our personal banking business,\" HSBC chairman David<br>\nEldon said.<\/p>\n<p>HSBC got the greenlight last month to acquire the Philippine<br>\nbank after more than three months of deliberations. HSBC is among<br>\nthe longest serving foreign banks in the Philippines.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/hsbc-to-buy-pcib-for-us22m-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}