Monetary Board closes Laguna-based rural bank

Feb 25, 2019 12:16 am

Monetary authorities have 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.

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