A rural bank in Batangas has been ordered shut by the Bangko Sentral ng Pilipinas (BSP), marking the second lender closed down by the regulators this month.
The BSP’s Monetary Board on Thursday shut down the operations of the Empire Rural Bank, Inc., a lender based in Lipa City. The Philippine Deposit Insurance Corp. (PDIC) took over the bank the following day as receiver. — Melissa Luz T. Lopez
