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2 Rural Banks Merge as Industry Consolidation Continues
The Philippine Star
|March 22, 2025
Two more rural banks have merged as part of ongoing efforts to strengthen the financial sector, with the Bangko Sentral ng Pilipinas (BSP) continuing to promote consolidation for improved risk management.
In a circular letter signed by BSP Deputy Governor Chuchi Fonacier, the central bank announced that Zambales Rural Bank Inc. and Bridgeway Rural Banking Corp. have officially merged.
The merger took effect on Feb. 18 after obtaining the necessary regulatory approvals, with Zambales Rural Bank serving as the surviving entity.
"The entire assets and liabilities of Bridgeway Rural Banking Corp. will be transferred to and absorbed by Zambales Rural Bank," Fonacier said, adding that the merged bank began operations on Feb. 21.
Diese Geschichte stammt aus der March 22, 2025-Ausgabe von The Philippine Star.
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