Conversion of the Lipa City Development Bank, Inc. from a thrift bank into a rural bank

Bangko Sentral ng P binas

MeMoranduM

SUPERVISION AND EXAMINATION SECTOR OFFICe oF tHe dePutY goVernor

CIRCULAR-LETTER Series 2004

TO: ALL BAnKS AND NoN-BAnK FINANCIAL INSTItUtiONS

WITH QUASI-BANKING FUNCTIONS

The Monetary Board, in its Resolution No. 201 dated February 6, 2003,

approved the conversion of the Lipa City Development Bank, Inc. from a thrift

bank into a rural bank, to be known as the "Lipa Bank, Incorporated (A

Rural Bank)."

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

issued by the Governor on March 1, 2004.

For information and guidance.

80e NESTOR A. ESPENILLA, JR. Se&tor-In-Charge

March 2004

MAG-IMPOK SA BANGKO

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