Regulatory Alerts2024-09-11
CL-2024-042: Conversion of Quezon Coconut Bank, Inc. into a Rural Bank
The Bangko Sentral ng Pilipinas issued Circular Letter CL-2024-042 to inform supervised financial institutions of the conversion of Quezon Coconut Bank, Inc. from a thrift bank to a rural bank. The Securities and Exchange Commission registered this conversion on April 18, 2024, following the issuance of a Certificate of Authority by the central bank on August 8, 2024. The institution officially commenced operations as a rural bank on September 2, 2024.
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