|BULLETIN NO. 2016-03|
To promote consolidations and mergers among rural banks, the Philippine Deposit Insurance Corporation (PDIC), the Bangko Sentral ng Pilipinas (BSP), the Land Bank of the Philippines (LBP) and the Countryside Financial Institutions Enhancement Program (CFIEP) have launched the Consolidation Program for Rural Banks (CPRB).
Under the CPRB, the proponent banks may avail of the program support and regulatory incentives.
The CPRB will be available for two (2) years until 25 August 2017.
Any group of at least five (5) rural banks with head offices or majority of the branches located in the same region or area, may qualify under the CPRB, subject to meeting the program's other requirements.
For guidance and procedures on the availment of incentives under the CPRB, please refer to the attached CPRB Implementing Guidelines.
For further inquiries, please contact the Office of the Vice President-Resolution Group at 841-4261 or visit our website at www.pdic.gov.ph.
February 11, 2016