Friday 20 September
May 27, 2019 @ 15:28

BSP shutters third rural bank in a month

 

The central bank is showing no mercy for these problematic lenders.

Shortly after closing down two banks, the Monetary Board shut down the operations of another provincial lender.

BSP shuts down Rural Bank of Mabitac

The Bangko Sentral ng Pilipinas (BSP) suspended the operations of the Rural Bank of Guihulngan (Negros Oriental) effective May 23 and ordered the Philippine Deposit Insurance Corporation (PDIC) to liquidate the bank’s assets.

Another rural bank folds up

Rural Bank of Guihulngan operates one branch at Bgy. Poblacion in the City of Guihulngan, Negros Oriental. It hosts 933 accounts worth a total of P5.95 million in deposits.

Clients of the bank are advised to transact only with official PDIC staff and executives.

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