Monetary authorities have shuttered two more rural banks, each headquartered in the provinces of Agusan del Norte and Quezon, due to insolvency. In a bulletin, state-run Philippine Deposit Insurance Corp. (PDIC) said the Monetary Board---the Bangko Sentral ng Pilipinas' (BSP) highest policy-making body---on July 28 prohibited Rural Bank of Cabadbaran (Agusan) Inc. from doing business. Rural Bank of Cabadbaran, whose head office was located in Cabadbaran City, the capital of Agusan del Norte, had three other offices: one branch each in the cities of Butuan and Cagayan de Oro as well as a microbanking office in Gingoog City. Likewise placed by the Monetary Board under the PDIC's r...
Keep on reading: BSP shutters two more rural banks
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Keep on reading: BSP shutters two more rural banks
from INQUIRER.net http://bit.ly/2ajFh9y
via IFTTT
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