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.
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.
