7 months Negros rural lender closed Manilatimes |Biz
Monetary authorities have ordered a Negros Oriental-based rural bank shuttered and placed under receivership. “The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) prohibited Rural Bank of Guihulngan (Negros Oriental) Inc.from doing business in the Philippines through MB Resolution No. 754.A dated May 23, 2019 which also directed the Philippine Deposit Insurance Corporation (PDIC) as receiver to proceed with the takeover and liquidation of Rural Bank of Guihulngan,” the PDIC said in a statement late on Friday. It was the sixth bank to be placed under PDIC receivership this year. The bank’s assets and affairs were placed under ... more