Merger of International Exchange Bank with Union Bank of the Philippines
BSP Circular Letter No. CL-2006-032 • Bangko Sentral ng Pilipinas • Circular Letters • Oct 5, 2006
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October 5, 2006 BSP CIRCULAR LETTER NO. CL-2006-032 TO : All Banks and Non-Bank Financial Intermediaries SUBJECT : Merger of International Exchange Bank with Union Bank of the Philippines The Securities and Exchange Commission (SEC) approved on 28 August 2006 the Plan of Merger and Articles of Merger executed on 3 August 2006, by and between the UNION BANK OF THE PHILIPPINES (UBP Surviving Corporation) and INTERNATIONAL EXCHANGE BANK (iBank Absorbed Corporation), whereby the entire assets and liabilities of iBank will be transferred to and absorbed by UBP. The merger took effect on 28 August 2006. For your information and guidance. CTacSE (SGD.) MA. CORAZON J. GUERRERO Sector-in-Charge
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