BSP Circular Letters BSP Circular Letter No. CL01232002BSP Circular Letter No. CL01232002 2002-01-23T00:00:00.000+08:00

Conversion of La Union Development Bank to LUDB Bank, Inc.

CIRCULAR LETTER Series of 2002

TO          :   All Banks and Non-Bank Financial Institutions with Quasi-Banking Functions

The Monetary Board, in its Resolution No. 1900 dated October 27, 2000, approved the conversion of the La Union Development Bank form a thrift bank into a rural bank, to be known as the "LUDB Bank, Inc. (A Rural Bank)".

The Certificate of Authority to operate as a rural bank was signed and issued by the Governor on December 27, 2001.

For information and guidance.

ALBERTO V. REYES Deputy Governor

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