Regulatory Alerts2025-03-17
CL-2025-012: Merger of Zambales Rural Bank, Inc. and Bridgeway Rural Banking Corporation
The Bangko Sentral ng Pilipinas issued this circular to inform supervised financial institutions of the merger between Zambales Rural Bank, Inc. and Bridgeway Rural Banking Corporation. The Securities and Exchange Commission approved the transaction on 18 February 2025, with Zambales Rural Bank, Inc. designated as the surviving entity absorbing all assets and liabilities of Bridgeway Rural Banking Corporation. The merger officially took effect on 18 February 2025, and the merged bank commenced operations on 21 February 2025.
OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2025- ___ To : All BSP-Supervised Financial Institutions Subject : Merger of Zambales Rural Bank, Inc. and Bridgeway Rural Banking Corporation with Zambales Rural Bank, Inc. as the Surviving Bank The Securities and Exchange Commission approved on 18 February 2025 the Articles and Plan of Merger, and their amendments executed on 26 April 2024 and 12 August 2024, respectively, by and between, Zambales Rural Bank, Inc., the surviving bank, and Bridgeway Rural Banking Corporation, the absorbed bank, whereby the entire assets and liabilities of Bridgeway Rural Banking Corporation will be transferred to and absorbed by Zambales Rural Bank, Inc. The merger took effect on 18 February 2025. Zambales Rural Bank, Inc. commenced operations as merged bank on 21 February 2025. For information and guidance. CHUCHI G. FONACIER Deputy Governor 17 March 2025 File/Ref. No. FSD II-2024-05-0004w-FSD2-CL-ZMBAL FSS Licensing Form No. 02-018 * Version 1 * Updated 31 July 2024 Digitally signed by Chuchi G. Fonacier Date: 2025.03.17 09:06:10 +08'00'