THE BANGKO Sentral ng Pilipinas (BSP) shut down Rural Bank of Guihulngan (Negros Oriental) Inc, according to the Philippine Deposit Insurance Corporation (PDIC) on Friday. The rural bank, located in Guihulngan City, is the 5th to be closed by the central bank this year. According to PDIC, the rural bank, as of Mar. 31 this year, has 933 deposit accounts with total deposit liabilities of P5.95 million. Total insured deposits amounted to 99.85% or P5.94 million. The Monetary Board (MB) of the BSP has “prohibited the bank from doing business in the Philippines through MB Resolution No. 754.A dated May 23, 2019,” and directed the PDIC as receiver “to proceed with the takeover and liquidation,” PDIC said. Other banks ordered closed this year were Rural Bank of Basey Inc. in Samar, Valient Bank Inc. in Iloilo, The Palawan Bank Inc., the Rural Bank of Mabitac in Laguna, and the Bagong Bangko Rural ng Malabang Inc. in Lanao del Sur. Last year, the central bank closed a total of 12 banks. — Reicelene Joy N. Ignacio
