Merger of Producers Savings Bank Corporation and Bangko Carrascal, Inc. (A Rural Bank)

OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR 016 CIRCULAR LETTER NO. CL – 2021 – ____ To : All BSP-Supervised Financial Institutions Subject : Merger of Producers Savings Bank Corporation and Bangko Carrascal, Inc. (A Rural Bank) The Securities and Exchange Commission approved on 29 January 2021 the Articles and Plan of Merger executed on 4 December 2019, by and between, Producers Savings Bank Corporation (PROSB), the surviving corporation, and Bangko Carrascal, Inc. (A Rural Bank) (BCARR), the absorbed corporation, whereby the entire assets and liabilities of BCARR will be transferred to and absorbed by PROSB. The merger took effect on 29 January 2021. For information and guidance. Digitally signed by Chuchi G. Fonacier Date: 2021.02.19 14:00:31 +08'00' CHUCHI G. FONACIER Deputy Governor 19 February 2021 A. Mabini St., Malate 1004 Manila, Philippines • (632) 8708-7701 • www.bsp.gov.ph • [email protected]