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.
File/Ref. No. FSDV-2024-07-0015f-FSD 5-M-QCBI Page 1 of 1 FSS Licensing Form No. 02-018 * Version 1 * Updated 31 July 2024 OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2024-____ To : All BSP-Supervised Financial Institutions Subject : Conversion of Quezon Coconut Bank, Inc. (A Thrift Bank) into a Rural Bank to be known as Quezon Coconut Bank, Inc. (A Rural Bank) The Securities and Exchange Commission registered on 18 April 2024 the conversion of Quezon Coconut Bank, Inc. (A Thrift Bank) into a rural bank to be known as Quezon Coconut Bank, Inc. (A Rural Bank). The corresponding Certificate of Authority to operate as a rural bank was issued by the Bangko Sentral ng Pilipinas on 8 August 2024. The Bank started to operate as a rural bank on 2 September 2024. For information and guidance. LYN I. JAVIER Sector-in-Charge 11__ September 2024