Regulatory Alerts2025-06-16
Consolidation of Agribusiness Rural Bank, Inc., Banco Alabang, Inc., Rural Bank of Maddela, Inc., and Rural Bank of San Jacinto, Inc. into Agribusiness Banking Corporation
The Bangko Sentral ng Pilipinas approved the consolidation of Agribusiness Rural Bank, Inc., Banco Alabang, Inc., Rural Bank of Maddela, Inc., and Rural Bank of San Jacinto, Inc. into a new entity named Agribusiness Banking Corporation. The Monetary Board authorized this merger via Resolution No. 88 on January 23, 2025, following the new corporation's registration with the Securities and Exchange Commission in February 2025. The consolidated rural bank officially commenced operations on June 16, 2025, after receiving its Certificate of Authority to Operate on May 30, 2025.
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