Friday 19 July
Dec 21, 2017 @ 12:21

Bataan’s Village Bank scales down from thrift to rural lender


Smaller doesn’t always mean weaker.

The Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) have approved the request of the Bataan-based Village Bank, Inc. to reorganize and classify themselves as a rural bank, scaling down from their previous license as a thrift lender.

BSP Deputy Governor Chuchi Fonacier made the decision public through Circular Letter 2017-072 signed on Dec. 14. The conversion took several steps: First, the bank registered its conversion under the SEC in July. This was followed by securing an authority to operate as a rural bank from the BSP in August.

Village Bank reopened in Orani, Bataan as a rural bank on Nov. 2, 2017.

Please follow and like us:

Tags: , , , , , , , ,

Related Stories
The Securities and Exchange Commission (SEC) recently approved the registration of the first one person
The Securities and Exchange Commission (SEC) has declared permanent an order barring Kapa-Community Ministry International,
You only need one person to form a corporation.
Philippine Telegraph & Telephone Corp. (PT&T) stressed that it continued to operate despite being placed


Trending News

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.