SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Jun 14, 2023

2. SEC Identification Number

PW-121

3. BIR Tax Identification No.

000-438-366-000

4. Exact name of issuer as specified in its charter

BANK OF THE PHILIPPINE ISLANDS

5. Province, country or other jurisdiction of incorporation

MANILA, PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

AYALA NORTH EXCHANGE TOWER 1 AYALA AVENUE COR. SALCEDO ST. LEGASPI VILLAGE, MAKATI CITY, METRO MANILA (current business address) Postal Code 1229

8. Issuer's telephone number, including area code

8246-5902 (CorpSec Off)/ 8246-5860 (IR)

9. Former name or former address, if changed since last report

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10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	4,539,018,015

11. Indicate the item numbers reported herein

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The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Bank of the Philippine IslandsBPI

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
BSP's Monetary Penalty for failure to comply with Section 10 of Republic Act No. 8751 on the Disposal of Treasury Shares relative to Bank of the Philippine Islands (“BPI” or the “Bank”) merger with BPI Family Savings Bank, Inc. (BPI Family)
Background/Description of the Disclosure
On 29 September 2022, BPI disclosed that the proposed amendment to BPI’s Articles of Incorporation to decrease its authorized capital stock by retiring the treasury shares will no longer be pursued. This disclosure was made after the Bangko Sentral ng Pilipinas (BSP) did not favorably endorse the Bank’s request to dispose of treasury shares arising from the merger of the Bank with BPI Family Savings Bank, Inc, through retirement of said shares in view of BSP’s opinion that retirement of treasury shares cannot be considered as sale or disposition of shares in accordance with Section 10 of Republic Act No.8791 (The General Banking Law of 2000). Eventually, BPI informed the BSP of the approval of the declaration of property dividends as BPI’s mode for disposal of the treasury shares, which, however, will only be completed after obtaining regulatory approvals. In its letter dated 13 June 2023, BSP imposed a monetary penalty on BPI amounting to P1,000,000.00 for failure to comply with Section 10 of Republic Act No. 8791 (The General Banking Law of 2000) on the disposal of treasury shares, arising from its merger with BPI Family within the six-month statutory period.
Other Relevant Information
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