Regulatory Alerts2024-04-15
Merger of Producers Savings Bank Corporation and Rural Bank of Maasin (Southern Leyte), Inc.
The Bangko Sentral ng Pilipinas issued this circular to announce the effective merger of Rural Bank of Maasin (Southern Leyte), Inc. into Producers Savings Bank Corporation. The Securities and Exchange Commission approved the merger agreement on 1 April 2024, designating Producers Savings Bank Corporation as the surviving entity that will absorb all assets and liabilities of the absorbed bank. All BSP-supervised financial institutions are directed to take note of the transaction, which officially took effect on 1 April 2024, for their information and guidance.
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