Regulatory Alerts2024-11-07
Merger of Queen City Development Bank, Inc. and Queen City Rural Bank, Inc. with QCDB as Surviving Bank
The Bangko Sentral ng Pilipinas issued Circular Letter CL-2024-046 to inform supervised financial institutions of the merger between Queen City Development Bank, Inc. and Queen City Rural Bank, Inc. The Securities and Exchange Commission approved the transaction on 28 June 2024, designating QCDB as the surviving entity to absorb all assets and liabilities of QCRB. The merged entity's operations officially commenced on 1 November 2024.
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