Conversion/Upgrade of the License of Mount Makiling Rural Bank, Inc. to Operate from a Rural Bank into a Thrift (Development) Bank under the Corporate Name Makiling Development Bank Corporation

Bangko Sentral ng Pilipinas

BSP Circular Letters

BSP Circular Letter No. CL-2019-067

September 17, 2019

BSP CIRCULAR LETTER NO. CL-2019-067

TO : All BSP-Supervised Financial Institutions
SUBJECT :Conversion/Upgrade of the License of Mount Makiling Rural Bank, Inc. to Operate from a Rural Bank into a Thrift (Development) Bank under the Corporate Name Makiling Development Bank Corporation

The Bangko Sentral ng Pilipinas approved the conversion/upgrade of the license of Mount Makiling Rural Bank, Inc. to operate from a rural bank into a thrift (development) bank under the corporate name Makiling Development Bank Corporation (MDBC). The Securities and Exchange Commission approved on 31 July 2019 the amended Articles of Incorporation and By-Laws of MDBC bearing the upgraded banking license and new corporate name.

MDBC will commence its operations as a thrift (development) bank on 20 September 2019.

For information and guidance.

(SGD.) CHUCHI G. FONACIER
Deputy Governor

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

Mobile No. +639451244898
digestph@gmail.com
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