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Philippine Business Bank gives details about Bataan Savings and Loan deal

Philippine Business Bank Inc. disclosed details about the acquisition of Bataan Savings and Loan Bank Inc.

The bank said the agreed purchase price amounted to 68.8 million Philippine pesos and was fully paid Dec. 31, 2015, according to the bank's annual report released April 13.

The bank had entered into a sale and purchase agreement with Bataan Savings and Loan Bank in July 2015.

The deal is still awaiting approval from the Bangko Sentral ng Pilipinas.

As of April 12, US$1 was equivalent to 46.04 Philippine pesos.