BSP CIRCULAR LETTER, December 02, 1994

[ BSP CIRCULAR LETTER, December 02, 1994 ]

CONVERSION AND OPERATION OF AIG FINANCE COMPANY (PHILIPPINES), INC.

The Monetary Board, in its Resolution No. 502 dated 24 November 1993, authorized the conversion and operation of AIG Finance Company (Philippines), Inc. as a thrift bank to be known as PHILAM SAVINGS BANK, INC. (PHILAMBANK). The Certificate of Authority to Operate was signed/issued by the Governor on 30 November 1994.

Adopted: 2 Dec. 1994

(SGD.) R.P. LIRIO Managing Director