BSP Circular Letters BSP Circular LetterBSP Circular Letter 1999-04-07T00:00:00.000+08:00
To authorize the conversion of the Sambali Community Rural Bank, Inc. into a thrift bank to be known as AREA DEVELOPMENT BANK, INC.
CIRCULAR LETTER Series of 1999
TO : All Banks and Non-Bank Financial Institutions with Quasi-Banking Functions
The Monetary Board, in its Resolution No. 307 dated February 25, 1998, authorized the conversion of the Sambali Community Rural Bank, Inc. located at Iba, Zambales into a thrift bank to be known as AREA DEVELOPMENT BANK, INC.
The Certificate of Authority to operate was issued and signed by the Officer-in-Charge on March 23, 1999.
The bank started operations as a thrift bank on April 5, 1999.
ALBERTO V. REYES Deputy Governor
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