Conversion of the Ilocos Sur Development Bank from a thrift bank into a rural bank, to be known as the "Cordillera Bank (A Rural Bank) Inc."

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SUPERVISION AND EXAMINATION SECTOR OFFice oF tHe dePutY GoVeRnoR

CIRCULAR-LETTER

Series 2003

TO: ALL BANKS And nOn-BANK FInANCiAL InStitUtiOnS WITH QUASI-BANKING FUNCTIONS

The Monetary Board, in its Resotution No. 1054 dated July 25, 2002,

approved the conversion of the Ilocos Sur Development Bank from a thrift bank

into a rurail bank, to be known as the "Cordillera Bank (A Rural Bank) Inc."

The Certificate of Authority to operate as a rural bank was signed and

issued by the Governor on February 18, 2003.

For information and guidance.

ALBERTO MREYES

Deputy Governor

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MAG-IMPOK SA BANGKO

MAYNIL.A, PILIPINAS 1004 . Tel No. 524-70-11 trunkline : URL: www.bsp.gov.ph : e-mail: [email protected]