January 26, 2005

BSP CIRCULAR LETTER

TO : All Banks and Non-Bank Financial Institutions with Quasi-Banking Functions

The Monetary Board, in its Resolution No. 1630 dated 6 November 2003, approved the consolidation of the Community Rural Bank (Nueva Ecija), Inc. and Muñoz Rural Bank, Inc. to be known as GM Bank, Inc. (A Rural Bank).

The certificate of filing of the articles and plan of consolidation was registered/approved by the Securities and Exchange Commission on 28 September 2004 while the certificate of authority to operate as a consolidated bank was signed/issued by the Officer-in-Charge on 12 October 2004.

The constituent banks started operation as a consolidated bank on 1 December 2004. cITaCS

(SGD.) ALBERTO V. REYES
Deputy Governor

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

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