July 17, 2018
BSP CIRCULAR LETTER NO. CL-2018-054
| TO | : | All BSP-Supervised Financial Institutions |
| SUBJECT | : | Chang Hwa Commercial Bank, Ltd.-Manila Branch — Establishment and Commencement of Operations |
The Monetary Board, in its Resolution No. 1187 dated 13 July 2017, granted authority to the Chang Hwa Commercial Bank, Ltd., a Taiwan-based bank, to establish a branch in the Philippines with commercial banking license.
The Chang Hwa Commercial Bank, Ltd.-Manila Branch was registered with the Securities and Exchange Commission on 31 January 2018. The corresponding Certificate of Authority to Operate as a commercial bank was issued by the Bangko Sentral ng Pilipinas on 13 June 2018. The Bank started its operations on 9 July 2018.
For information and guidance.
(SGD.) CHUCHI G. FONACIER
Deputy Governor
