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September 25, 2002BSP CIRCULAR LETTERTO : All Banks and Non-Bank Financial Institutions with Quasi-Banking Functions The Monetary Board, in its Resolution No. 545 dated April 5, 2001, approved the consolidation of the Maharlika Rural Bank of Sta. Cruz (Zambales), Inc. and the Rural Bank of Infanta (Pangasinan), Inc. to be known as the "Maharlika Rural Bank, Inc.".The Plan of Consolidation executed on March 23, 2000 and the Articles of Consolidation executed on February 12, 2001 were approved by the Securities and Exchange Commission on February 6, 2002. The Certificate of Authority to operate as a consolidated bank was signed by the Governor on February 26, 2002. ISTCHEThe constituent banks started operations as a consolidated bank on June 26, 2002. (SGD.) NESTOR A. ESPENILLA, JR.Sector-in-Charge