BSP Circular Letter No. 46 (2026)
Merger of BPI Direct BanKo, Inc., A Savings Bank (BPIDB) and Legazpi Savings Bank, Inc., with BPIDB as the Surviving Bank
“sf BANGKO SENTRAL NG PILIPINAS
FINANCIAL SUPERVISION SECTOR | OFFICE OF THE DEPUTY GOVERNOR
CIRCULAR LETTER NO. CL-2026-046
To : All BSP-Supervised Financial Institutions
Subject : Merger of BPI Direct BanKo, Inc., A Savings Bank (BPIDB) and Legazpi Savings Bank, Inc., with BPIDB as the Surviving Bank
The Securities and Exchange Commission approved on 24 July 2026 the Articles of Merger and Plan of Merger (POM) executed on 23 January 2026, and re-executed on 04 May 2026, respectively, and the Supplemental POM executed on 04 March 2026, by and between, BPIDB, the Surviving Corporation, and Legazpi Savings Bank, Inc. (LGPSB), the Absorbed Corporation. The entire assets and liabilities of LGPSB will be transferred to and absorbed by BPIDB.
The merger shall become effective on O1 October 2026.
For information and guidance.
—— Digitally signed by Lyn I. Javier Date: 2026.09.20 19:50:01 +08'00' LYN I. JAVIER Deputy Governor
20 September 2026