Merger of Philippine Business Bank, Inc. with Kabalikat Rural Bank, Inc.
CIRCULAR LETTER NO. CL-2010-019
To: All Banks and Non-Bank Financial Institutions
Subject: Merger of Philippine Business Bank, Inc. with Kabalikat Rural Bank, Inc.
The Securities and Exchange Commission approved on 3 March 2010 the Articles and Plan of Merger executed on 25 July 2008 and 21 May 2008, respectively, by and between Philippine Business Bank (PBB), surviving corporation, and Kabalikat Rural Bank, Inc. (KRBI), absorbed corporation, whereby the entire assets and liabilities of KRBI will be transferred to and absorbed by PBB.
The approval took effect on 3 March 2010.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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