Bangko Sentral orders closure of Pangasinan bank
The Bangko Sentral ng Pilipinas (BSP) ordered the closure of Bangko Pangasinan, a rural bank operating in Dagupan City.
In its Resolution No. 69, dated June 1, 2023, the bank was prohibited from doing business in the country under Section 30 of the amended Republic Act (RA) No. 7653 or the New Central Bank Act.
State-run Philippine Deposit Insurance Corp. (PDIC) took over the closed bank as a receiver last June 2 with a directive to proceed with take over and liquidation of the closed rural bank following RA 3591 or the PDIC Charter.
Bangko Pangasinan, with branches in Alaminos City and in Burgos, Aguilar, and Bolinao towns, was operating from its head office in ET Gonzales Building, MacArthur Highway, MH Del Pilar Street, Mayombo, Dagupan City.
The latest available records show that as of December 31, 2021, the closed bank had 3,828 deposit accounts with total deposit liabilities of P273.2 million, of which 91.2 percent or P249.2 million are insured deposits.
The PDIC announced, “For business entities and all other depositors, filing of claims for insured deposit is targeted to start by July 10, 2023.” (PIA Pangasinan/AMMB)
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