Regulatory Alerts2025-03-26
CL-2025-014: Merger of LBP Leasing and Finance Corporation and UCPB Leasing and Finance Corporation
The Office of the Deputy Governor of the Bangko Sentral ng Pilipinas issued Circular Letter CL-2025-014 to inform supervised financial institutions of the merger between LBP Leasing and Finance Corporation and UCPB Leasing and Finance Corporation. The Securities and Exchange Commission approved the transaction, designating LBP Leasing as the surviving entity that will absorb all assets and liabilities of UCPB Leasing. This merger officially took effect on March 1, 2025, following the execution of the Articles and Plan of Merger in late 2024.
File/Ref. No. FSD VIII-2025-03-0119a-FSD8-M-ODG Page 1 of 1 FSS Licensing Form No. 02-018 * Version 1 * Updated 31 July 2024 OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION DEPARTMENT VIII CIRCULAR LETTER NO. CL-2025-___ To : All BSP-Supervised Financial Institutions Subject : Merger of LBP Leasing and Finance Corporation and UCPB Leasing and Finance Corporation The Securities and Exchange Commission (SEC) approved on 28 February 2025 the Articles of Merger and the Plan of Merger executed on 11 December 2024 and 18 October 2024, respectively, by and between LBP Leasing and Finance Corporation (LBPLC), surviving corporation, and UCPB Leasing and Finance Corporation (ULFC), absorbed corporation, whereby the entire assets and liabilities of ULFC will be transferred to and absorbed by LBPLC. The merger took effect on 01 March 2025. For information and guidance. CHUCHI G. FONACIER Deputy Governor ___ March 2025 26