Upgrade of License/Conversion of Bangko Kabayan (A Rural Bank), Inc. from a Rural Bank into a Thrift Bank (Private Development Bank)

September 8, 2016BSP CIRCULAR LETTER NO. CL-2016-076TO  :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. FONACIERSector-in-Charge