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

Bangko Sentral ng Pilipinas

BSP Circular Letters

BSP Circular Letter No. CL-2016-010

February 10, 2016

BSP CIRCULAR LETTER NO. CL-2016-010

TO: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

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

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