Merger between China Bank Savings, Inc. and Planters Development Bank

February 10, 2016BSP CIRCULAR LETTER NO. CL-2016-010TO:All Banks and Non-Bank Financial Institutions   SUBJECT:Merger between China Bank Savings, Inc. and Planters Development Bank The Securities and Exchange Commission approved on 17 December 2015 the Plan of Merger, Amended Plan of Merger, and Articles of Merger executed by and between China Bank Savings, Inc. (CBSI), the surviving corporation, and Planters Development Bank (PDB), the absorbed corporation, whereby the entire assets and liabilities of PDB will be transferred to and absorbed by CBSI. The effective date of the merger was on 17 December 2015.For information and guidance.(SGD.) NESTOR A. ESPENILLA, JR.Deputy Governor