Merger between China Bank Savings, Inc. and Planters Development Bank
BSP Circular Letter No. CL-2016-010 • Bangko Sentral ng Pilipinas • Circular Letters • Feb 10, 2016
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February 10, 2016 BSP CIRCULAR LETTER NO. CL-2016-010 TO : All Banks and Non-Bank Financial Institutions SUBJECT : Merger between China Bank Savings, Inc. and Planters Development Bank The Securities and Exchange Commission approved on 17 December 2015 the Plan of Merger, Amended Plan of Merger, and Articles of Merger executed by and between China Bank Savings, Inc. (CBSI), the surviving corporation, and Planters Development Bank (PDB), the absorbed corporation, whereby the entire assets and liabilities of PDB will be transferred to and absorbed by CBSI. The effective date of the merger was on 17 December 2015. For information and guidance. (SGD.) NESTOR A. ESPENILLA, JR. Deputy Governor
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