Regulatory Alerts2025-08-11
CL-2025-035: Revocation of License to Operate as an NSSLA of ASLA Savings and Loan Association Inc.
Bangko Sentral ng Pilipinas issued Circular Letter No. CL-2025-035 to formally notify all supervised financial institutions of the final denial of ASLA Savings and Loan Association, Inc.'s motion for reconsideration regarding its license revocation. The Monetary Board upheld the decision made in Resolution No. 1111.B(1) dated 24 August 2023, which revoked ASLA's license to operate as a Non-Stock Savings and Loan Association due to willful violations of Republic Act 8367 and BSP regulations. This action confirms the finality of the license revocation as of the resolution dated 17 July 2025.
Share