Rural bank in Samar shutteredhome/Business/Top Business/Rural bank in Samar shutteredAnother rural bank, this time in Samar, was shut down by the Bangko Sental ng Pilipinas (BSP) and placed under receivership of the Philippine Deposit Insurance Corp. (PDIC). In a statement on Monday, the state-run PDIC said the BSP’s Monetary Board (MB) prohibited Rural Bank of Basey (Samar), Inc. from doing business. The single-unit lender, the Rural Bank of Basey is located in Serafin Marabut St., Loyo (Pob. Depositors of closed banks under PDIC receivership are entitled to be paid up to the maximum insurance coverage of P500,000. Rural Bank of Basey depositors may update their addresses until May 22, 2019 using the Mailing Address Update Forms to be distributed by PDIC representatives at the bank premises.

Source: Manila Times May 20, 2019 16:20 UTC