The Central Bank of the Philippines issued a circular letter to banks and BSP-supervised non-bank financial institutions advising that the Monetary Board, under Resolution No. 1468 dated 19 December 2024, has noted the cessation of operations of UBS AG’s Philippine Representative Office.
Central Bank of the Philippines 2025-01-08
Central Bank of the Philippines notes cessation of UBS AG Philippine Representative Office operations
The Central Bank of the Philippines announced that the Monetary Board has acknowledged the closure of UBS AG’s Philippine Representative Office, as per Resolution No. 1468 dated 19 December 2024. This update was communicated through a circular letter to banks and BSP-supervised non-bank financial institutions.