THE Bangko Sentral ng Pilipinas yesterday
placed three more rural banks under receivership, bringing to
four the number of small thrift institutions placed under the
Philippine Deposit Insurance Corp.
Four more banks are under investigation after
they also declared they could no longer service their
depositors.
In a statement issued last night, the BSP
said these banks represent only a tiny fraction of the banking
system and that this reaffirms the BSP’s assessment that the
banking system remains stable, highly capitalized, and highly
liquid.
The affected banks were:
• Rural Bank of Parañaque (placed under PDIC
receivership by the Monetary Board on December 9).
• Rural Bank of Bais based in Negros Oriental
(placed under PDIC receivership yesterday).
• Pilipino Rural Bank based in Cebu (placed
under receivership yesterday.
• Rural Bank of San Jose based in San Jose,
Batangas (placed under receivership yesterday).
• Philippine Countryside Bank based in Cebu.
• Dynamic Bank (RB of Calatagan) based in
Batangas.
• San Pablo City Development Bank.
• Nation Bank based in Bacolod City
The Bangko Sentral said it is investigating the banks to
determine their financial condition and viability as well as
possible violations of banking laws.
