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

Bangk EnfO na

MEMORANDUM

OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR

CIRCULAR-LETEER Series of 2004

TO: ALl BANKS ANd NON-BANK FInANCIAL InStItUtIOnS

WItH QUASI-BANKING FUNCTIONS

The Monetary Board, in its Resolution No. 1028 dated July 5, 2001,

approved the conversion of the Batangas Development Bank, Inc. from a

thrift bank into a rural bank, to be known as the "Balayan Bay Rural Bank,

Inc."

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.

ALBERTQ Deputy Governor REYES

Mar 00

MAG-IMPOK SA BANGKO

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