September 8, 2016
BSP CIRCULAR LETTER NO. CL-2016-076
| TO | : | All BSP Supervised Financial Institutions and BSP Supervised Non-Bank Financial Institutions |
| SUBJECT | : | Upgrade of License/Conversion of Bangko Kabayan (A Rural Bank), Inc. from a Rural Bank into a Thrift Bank (Private Development Bank) to be known as Bangko Kabayan, Inc. (A Private Development Bank) |
The Securities and Exchange Commission registered on 25 April 2016 the upgrade of license/conversion of Bangko Kabayan (A Rural Bank), Inc. into a private development bank to be known as Bangko Kabayan, Inc. (A Private Development Bank).
The corresponding Certificate of Authority to Operate as a thrift bank was issued by the Bangko Sentral ng Pilipinas on 27 May 2016. The Bank started to operate as a thrift bank on 19 August 2016.
For information and guidance.
(SGD.) CHUCHI G. FONACIER
Sector-in-Charge
