Regulatory Alerts2025-02-04
CL-2025-006: Dungganon Bank Conversion to Regular Rural Bank and Name Change
The Bangko Sentral ng Pilipinas issued Circular Letter CL-2025-006 to inform all supervised financial institutions of the conversion of Dungganon Bank (A Microfinance Rural Bank), Inc. into a regular rural bank. The institution has officially changed its corporate name to Dungganon Bank (A Rural Bank), Inc., following the approval of its Amended Articles of Incorporation and By-Laws by the Securities and Exchange Commission on 4 December 2024. This circular serves as official notice and guidance regarding the bank's new status and identity effective from the issuance date of 4 February 2025.
FSS Licensing Form No. 02-018 * Version 1 * Updated 31 July 2024 OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2025-__ To : All BSP-Supervised Financial Institutions Subject : Dungganon Bank (A Microfinance Rural Bank), Inc. – Conversion to a Regular Rural Bank and Change of Corporate Name to Dungganon Bank (A Rural Bank), Inc. The Bangko Sentral ng Pilipinas noted the conversion of Dungganon Bank (A Microfinance Rural Bank), Inc. to a regular rural bank to be known as Dungganon Bank (A Rural Bank), Inc. The Securities and Exchange Commission approved on 4 December 2024 the Amended Articles of Incorporation and Amended By-Laws of the Bank bearing its new corporate name. For information and guidance. CHUCHI G. FONACIER Deputy Governor 04 February 2025