BSP closes Laguna-based rural bank
Credit to Author: The Manila Times| Date: Sun, 24 Feb 2019 05:42:25 +0000
MONETARY authorities ordered a Laguna-based rural bank (RB) closed and placed under receivership.
“The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) prohibited Rural Bank of Mabitac (Laguna) Inc. from doing business in the Philippines,” the Philippine Deposit Insurance Corp. (PDIC) said in a statement late on Friday.
It was the second bank to be placed under PDIC receivership this year.
The bank’s assets and affairs were placed under control of the PDIC on February 22, 2019.
The 17-unit lender is headquartered in at 17 J. Rizal St., Brgy. Sinagtala (Pob.), Mabitac, Laguna.
It has two branches located in Candelaria and Infanta, Quezon; six extension offices in Laguna (Cabuyao, Calamba, Los Baños, Paete, Siniloan and Sta. Maria); five micro banking offices in Laguna (Cabuyao, Los Baños, Paete), Batangas (Tanauan) and Rizal (Tanay); and three other banking offices located in Nagcarlan, Sta. Cruz and Sta. Rosa, all in Laguna. MAYVELIN U. CARABALLO
The post BSP closes Laguna-based rural bank appeared first on The Manila Times Online.