The Philippine Deposit Insurance Corporation (PDIC) and Bangko Sentral ng Pilipinas (BSP) amended the Strengthening Program for Rural Banks (SPRB) – Module 1 framework. The program as amended is termed as Strengthening Program for Rural Banks Plus or “SPRB Plus.”

The SPRB Plus is now extended to: (i) rural banks (RBs) and thrift banks (TBS) as Eligible Banks (EBs), and: (ii) rural, thrift, universal and commercial banks, non-bank corporations and group of companies as Eligible Strategic Third Party Investors (STPIs).

The SPRB Plus aims to strengthen RBs and TBs serving the countryside and low income sector, through the grant of financial assistance (FA) by the PDIC and branching and other incentives by the BSP to banks which will qualify under the program.

Eligible STPIs merging, consolidating or acquiring EBs, pursuant to the SPRB Plus Implementing Guidelines (“Guidelines”) may be considered under the program.

To apply under the SPRB Plus, the Eligible STPI and the EB should submit a joint letter, separately addressed to PDIC and BSP accompanied by the following:

1. Duly accomplished application form (SPRB Plus Form No. 1);

2. Request for FA from PDIC in accordance with the attached Guidelines);

3. Request for incentives from the BSP in accordance with the Guidelines on the Grant of Additional Incentives under the SPRB Plus, attached as Annex “A”; and

4. Documentary requirements as listed in Annex “B”.

In relation to the SPRB Plus, we reiterate PDIC’s Investor-Investee Helpdesk, a facility for investors (banks or non-bank financial institutions) looking for banks to acquire, merge or consolidate with, or invest in (Please see PDIC Bulletin No. 2010-01 dated 6 January 2010). Through the Investor-Investee Helpdesk, investors may be introduced to banks looking for acquirers/investors. Interested investors or investees may apply and avail this service in accordance with the attached Helpdesk Guidelines.

Applications under the SPRB Plus and/or Investor-Investee Helpdesk may be sent to:

For further inquiries, please contact the SPRB Lane at 813-3673 and/or Investor-Investee Helpdesk at 841-4370 or visit our website at www.pdic.gov.ph.

We look forward to your active support and participation in these programs.

14 August 2012

Attachments:
SPRB Plus Implementing Guidelines, including Annexes A, A1 & B
Strengthening Program for Rural Bank (SPRB) Plus Application Form 1
PDIC Investor-Investee Helpdesk Implementing Guidelines
Investee Bank Registration Form
Investor Registration Form