Regulatory Alerts2024-11-12
CL-2024-047: Merger of Producers Savings Bank Corporation and Community Rural Bank of San Felipe (Zambales), Inc.
The Bangko Sentral ng Pilipinas issued Circular Letter CL-2024-047 to inform supervised financial institutions of the merger between Producers Savings Bank Corporation and Community Rural Bank of San Felipe (Zambales), Inc. The Securities and Exchange Commission approved the transaction on October 30, 2024, designating Producers Savings Bank Corporation as the surviving entity that absorbs all assets and liabilities of Community Rural Bank. The merger officially took effect on October 31, 2024, as stated in the directive signed by Deputy Governor Chuchi G. Fonacier.
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