World Partners Bank, a five-unit thrift bank with head office in San Pedro City, Laguna, is headed by Rosalinda Hortaleza as chairman and chief executive, Rolando Hortaleza as vice chairman and Corazon Balinas as president. The Monetary Board said in a statement it closed the Laguna-based thrift bank due to unsound financial condition. The Monetary Board prohibited World Partners Bank from doing business in the Philippines. Tan said the executives of the closed bank could face charges if PDIC found that some unlawful banking practices were committed before its closure. Latest available records showed that as of June 30, 2017, World Partners Bank had 22,613 deposit accounts with total deposit liabilities of P559.5 million.

Source: The Standard August 15, 2017 12:22 UTC