June 15, 2006
BSP CIRCULAR LETTER NO. CL-2006-010
| TO | : | All Banks and Non-Bank Financial Institutions with Quasi-Banking Functions |
| SUBJECT | : | Consolidation of Rang-ay Rural Bank (La Union), Inc. and Rural Bank of Burgos (Ilocos Sur), Inc. into Rang-ay Bank (A Rural Bank) |
The Monetary Board, in its Resolution No. 1142 dated 26 August 2005, approved the consolidation of the Rang-ay Rural Bank (La Union), Inc. and the Rural Bank of Burgos (Ilocos Sur), Inc. to be known as Rang-ay Bank (A Rural Bank), Inc.
The certificate of filing of the articles and plan of consolidation was registered/approved by the Securities and Exchange Commission on 19 December 2005 while the certificate of authority to operate as a consolidated bank was signed/issued by the Governor on 10 January 2006.
For information and guidance.
(SGD.) NESTOR A. ESPENILLA, JR.
Deputy Governor
