January 26, 2017
BSP CIRCULAR LETTER NO. CL-2017-009
| TO | : | All Banks and Non-Bank Financial Institutions |
| SUBJECT | : | Merger between BPI Direct Savings Bank, Inc. and BPI Globe BanKO, Inc., a Savings Bank and Change of Corporate Name |
The Securities and Exchange Commission (SEC) approved on 29 December 2016 the Articles and Plan of Merger executed by and between BPI Direct Savings Bank, Inc. (BPIDS), the surviving corporation, and BPI Globe BanKO, Inc., A Savings Bank (BPIGL), the absorbed corporation, whereby the entire assets and liabilities of BPIGL will be transferred to and absorbed by BPIDS. Further, the SEC approved on even date the change of the corporate name of BPIDS to BPI Direct BanKO, Inc., A Savings Bank.
The effective date of the merger was on 29 December 2016.
For information and guidance.
(SGD.) NESTOR A. ESPENILLA, JR.
Deputy Governor
