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Philippines' SEC approves merger of 3 BDO Unibank units

BDO UnibankInc. obtained regulatory approval for the merger of three of itsunits.

The bank said July 12 that the Securities and Exchange Commissionapproved the merger of BDO Capital and Investment Corp., BDO Elite Savings BankInc. and Banco De Oro Savings Bank Inc.

BDO Capital will be the surviving entity after the merger.