MANILA -- Ayala and Gokongwei groups, two of the Philippines' most powerful conglomerates, are considering a possible "collaboration" on banking, the companies said on Friday, as lenders in the country move to build scale and navigate a wave of digitalization.

Ayala owns Bank of the Philippine Islands, the country's fourth-largest lender by assets, while Gokongwei Group's Robinsons Bank (Rbank) is the 17th biggest, according to data from the Philippine central bank as of the end of March.