Conversion/Upgrade of the License of Mount Makiling Rural Bank, Inc. to Operate from a Rural Bank into a Thrift (Development) Bank under the Corporate Name Makiling Development Bank Corporation
BSP Circular Letter No. CL-2019-067 • Bangko Sentral ng Pilipinas • Circular Letters • Sep 17, 2019
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September 17, 2019 BSP CIRCULAR LETTER NO. CL-2019-067 TO : All BSP-Supervised Financial Institutions SUBJECT : Conversion/Upgrade of the License of Mount Makiling Rural Bank, Inc. to Operate from a Rural Bank into a Thrift (Development) Bank under the Corporate Name Makiling Development Bank Corporation The Bangko Sentral ng Pilipinas approved the conversion/upgrade of the license of Mount Makiling Rural Bank, Inc. to operate from a rural bank into a thrift (development) bank under the corporate name Makiling Development Bank Corporation (MDBC). The Securities and Exchange Commission approved on 31 July 2019 the amended Articles of Incorporation and By-Laws of MDBC bearing the upgraded banking license and new corporate name. MDBC will commence its operations as a thrift (development) bank on 20 September 2019. For information and guidance. (SGD.) CHUCHI G. FONACIER Deputy Governor
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