Acquisition by Banco de Oro Universal Bank of Banco Santander Philippines, Inc. and the acquisition by BDO Capital and Investment Corporation of Santander Investment Securities Philippines, Inc.
CIRCULAR LETTER Series of 2003
TO : All Banks and Non-Bank Financial Intermediaries
The Monetary Board in its Resolution No. 1141 dated August 7, 2003 approved the acquisition by Banco de Oro Universal Bank (BDO) of Banco Santander Philippines, Inc. (BSPI) and the acquisition by BDO Capital and Investment Corporation (BCIC) of Santander Investment Securities Philippines, Inc. (SISPI).
The acquisition took effect on August 29, 2003.
Both BSPI and SISPI shall be under the supervision of the Supervision and Examination Department I, SES, effective on even date.
For your information and guidance.
ALBERTO V. REYES Deputy Governor
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