DB

Deutsche Bank sells trust unit to Banco de Oro (BDO)

Banco de Oro (BDO), the Philippines’ largest bank in terms of assets and deposit base, has announced that it is acquiring the local trust business of German financial services company Deutsche Bank.

In a disclosure submitted to the Philippine Stock Exchange, BDO said the deal covers the trust, fiduciary and investment management activities of Deustche Bank AG Manila branch.

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