February 7, 2017
BSP CIRCULAR LETTER NO. CL-2017-010
| TO | : | All Banks and Non-Bank Financial Institutions |
| SUBJECT | : | BPI Asset Management and Trust Corporation — Establishment and Commencement of Operations |
The Monetary Board, in its Resolution No. 1349 dated 28 July 2016, approved the request of the Bank of the Philippine Islands to spin-off its trust department into a trust corporation to be called BPI Asset Management and Trust Corporation (BPI Trust).
The BPI Trust was registered with the Securities and Exchange Commission on 06 October 2016. The corresponding Certificate of Authority to Operate BPI Trust was issued by the Bangko Sentral ng Pilipinas on 29 December 2016. BPI Trust started operations on 01 February 2017.
For information and guidance.
(SGD.) RESTITUTO C. CRUZ
Sector-in-Charge
