Articles of Merger and Plan of Merger of Bangko Kabayan with Fairbank and Progressive Bank

Bangko Kabayan Inc. is one of the leading countryside financial institutions in Region 4 and prides itself on its banking products and services made specifically for micro, small and medium enterprises. As of now, Bangko Kabayan has 23 branches and one branch lite in the provinces of Batangas, Quezon, and Laguna. Envisioning to provide an opportunity for the bank to expand its market reach in catering MSME's and unbanked sectors of our economy outside Luzon, it entered into a plan of merger with two Rural banks; First Agro-Industrial Rural Bank Inc (FairBank), based in Cebu and Progressive Bank Inc. (PBI) based in Ilo-Ilo.

The Articles of Merger and Plan of Merger of Bangko Kabayan, FairBank, and PBI, with Bangko Kabayan as the surviving bank, have been approved by (1) the Boards of Directors and shareholders of Bangko Kabayan, FairBank, and PBI. The bank already received the confirmation letter from the Philippine Competition Commission that the merger qualifies for Non-coverage from Compulsory Notification. The PDIC consent has been received as well and just recently, last September 12, 2022, the bank received the approval from the Monetary Board of the Bangko Sentral ng Pilipinas. After the BSP approval, the application will then be submitted to the Securities and Exchange Commission (SEC). The merger shall become effective upon its approval by the SEC.

Read the Notice of Merger