The Central Bank of the Philippines issued a circular letter informing BSP-supervised financial institutions that the Monetary Board has approved the consolidation of Agribusiness Rural Bank, Inc., Banco Alabang, Inc. (A Rural Bank), Rural Bank of Maddela (Quirino), Inc., and Rural Bank of San Jacinto (Masbate), Inc. into a new rural bank, Agribusiness Banking Corporation – A Rural Bank, doing business as Agribank. The consolidation was approved under Monetary Board Resolution No. 88 dated 23 January 2025. The new bank was registered with the Securities and Exchange Commission on 14 February 2025, received its Certificate of Authority to Operate as a Rural Bank from the Bangko Sentral ng Pilipinas on 30 May 2025, and started operations on 16 June 2025.
Central Bank of the Philippines 2025-06-16
Central Bank of the Philippines authorises the consolidation of four rural banks into Agribank
The Central Bank of the Philippines announced the consolidation of four rural banks into Agribusiness Banking Corporation – A Rural Bank, known as Agribank. Approved by Monetary Board Resolution No. 88, the new entity received its Certificate of Authority from Bangko Sentral ng Pilipinas and commenced operations on 16 June 2025.