Closed Banks in the Philippines 2012

1.24.2012

The first two banks closed by the Bangko Sentral ng Pilipinas (BSP) in 2012 were Cooperative Bank of Iloilo and Rural Bank of Luna (La Union) Inc. Both were closed on January 20, with the Iloilo bank closed under Resolution No. 84, and the La Union bank closed under Resolution No. 85.

We hope that the list won't grow quickly as last year, 2011, which saw 29 failed banks, including 4 savings banks, namely:

  • Banco Filipino Savings and Mortgage Bank
  • LBC Development Bank
  • Express Savings Bank
  • Bank of Calape Savings and Mortgage Bank

CLOSED  BANKS IN THE PHILIPPINES 2012 as of  December 23, 2012

24
RURAL BANK OF BANGAR (LA UNION), INC.
- Office at No. 2 Central East, Bangar, La Union
- Closed by the BSP on December 19, 2012
- Taken over by the PDIC on December 20, 2012
23
RURAL BANK OF DASMARIÑAS (CAVITE), INC.
- Office at 19 Camerino Ave., Dasmariñas, Cavite
-  Closed by the BSP on November 29, 2012
- Taken over by the PDIC on November 29, 2012

22
ILOCANDIA COMMUNITY BANK, INC.
- formerly Rural Bank of Pasuquin
- Head Office at Brgy. 2, Pasuquin, Ilocos Norte
- 2 branches:
  Piddig, Ilocos Norte
  Flora, Apayao, CAR
- Closed by the BSP on November 22, 2012
- Taken over by the PDIC on November 23, 2012

21
SIAM BANK (A RURAL BANK), INC.
- Head Office at J.R. Borja St., Cagayan de Oro City
- 4 branches:
  Quezon Ave. Ext. , Iligan City
  Valencia City, Bukidnon
  Lugait, Misamis Oriental
  Villanueva, Misamis Oriental
- Closed by the BSP on November 22,2012
- Taken over by the PDIC on November 23, 2012

20
STO. ROSARIO RURAL BANK (BATANGAS) INC.
- Head Office at J.P. Rizal St., Poblacion, Padre Garcia, Batangas
- 2 branches: San Juan and Lipa City in Batangas
- Closed by the BSP on October 4, 2012
- Taken over by the PDIC on October 4, 2012

19
RURAL BANK OF TAGAYTAY (CAVITE) INC.
- Head office at 322 Gen. Emilio Aguinaldo Highway, Brgy. Maitim 2nd, Tagaytay City
- One branch at Tagaytay-Mendez Junction, Tagaytay City.
- Closed by the BSP on September 20, 2012
- Taken over by the PDIC on September 20, 2012

18
RURAL BANK OF BALETE (AKLAN) INC.
- Head office located in Poblacion, Balete, Aklan
- One branch office in Kalibo, Aklan
- Closed by the BSP on August 16, 2012
- Taken over by the PDIC on August 17, 2012
- Had 5,716 accounts with total deposits of 65.8 million pesos as of June 30, 2012

17
RURAL BANK OF TAFT (EASTERN SAMAR), INC.
- Real St., Barangay 4, Poblacion, Taft, Eastern Samar
- Closed by the BSP on August 9, 2012
- Taken over by the PDIC on August 10, 2012

16
RURAL BANK OF VICTORIA (ORIENTAL MINDORO), INC.
- in Poblacion, Victoria, Oriental Mindoro
- Closed by the BSP on August 2, 2012
- Taken over by the PDIC on August 6, 2012

15
RURAL BANK OF VALENCIA (BUKIDNON), INC.
- in Valencia City, Bukidnon
- Closed by the BSP on July 27, 2012
- Taken over by the PDIC on July 27, 2012

14
RURAL BANK OF M'LANG (COTABATO) INC.
- Located along Magsaysay Ave., Poblacion-A, M’lang in North Cotabato
- Closed by the BSP on July 19, 2012
- Taken over by the PDIC on July 20, 2012

13
RURAL BANK OF BADIANGAN (ILOILO), INC.
- Located along R.C. Tabiana St., Badiangan, Iloilo
- Closed by the BSP on Ju ly 5, 2012
- Taken over by the PDIC on July 5, 201

12
RURAL BANK OF NAGUILIAN (LA UNION) INC.
- Located in Natividad, Naguilian, La Union
- Has one branch in San Fernando City, La Union
- Has one branch along C.M. Recto in Lipa City
- Closed by the BSP on June 28, 2012
- Taken over by the PDIC on June 29, 2012

11
BANCO BATANGAN (A RURAL BANK) INC.
- Located along J.P. Rizal Street, Poblacion, Taysan, Batangas
- Has one branch along C.M. Recto in Lipa City
- Closed by the BSP on June 21, 2012
- Taken over by the PDIC on June 21, 2012

10
RURAL BANK OF JAVIER (LEYTE) INC.
- Located along Real Street, Zone II, Javier, Leyte
- Closed by the BSP on June 7, 2012
- Taken over by the PDIC on June 8, 2012

09
RURAL BANK OF BANAYOYO (ILOCOS SUR)
- Closed by the BSP on May 31, 2012
- Taken over by the PDIC on June 1, 2012
- A single-office rural bank in Poblacion, Banayoyo, Ilocos Sur
- Had 324 accounts, with total deposits of 4.26 million as of March 31, 2012
- Co-owned by Saturnino L. Mangugan (39.36%) and Daniel M. Galang (16.86%).
- Chairman and president is Franklin L. Mangugan.

08
MILLENNIUM BANK (A RURAL BANK)
- A single-office rural bank in Cabanatuan City, Nueva Ecija
- Had 1,451 accounts with total deposits of 37.52 million pesos as of March 2012
- Is co-owned by Phil. Indi. Commercial Enterprise (40%), Norberto Dela Merced (19.99%), and Ma. Victoria Cristina S. Abraham (18%).
- Closed by the BSP on May 24, 2012
- Taken over by the PDIC on May 25,2012

07
NEW RURAL BANK OF TAGKAWAYAN INC. (QUEZON)
- Has 8 offices: head office in Tagkawayan, 2 branches in Sariaya, and one each in Calauag, Candelaria and Lucena City in Quezon, and in San Juan and Rosario in Batangas.
- Had 14,099 accounts with total deposit liabilities of 363.44 million
- Bank is owned by Anicia De Gala (39.85%), who is chairman and president, and Daniel De Gala (39.85%)
- Closed by the BSP on May 17, 2012
-  Taken over by the PDIC on May 18, 2012

Head Office: Lagdameo Boulevard, Tagkawayan, Quezon
Executive Office: Candelaria, Quezon

06
EXPORT and INDUSTRY BANK
- First commercial bank to fail since Urban Bank's failure in 2000
- It acquired Urban Bank in 2001
- Had 50 offices, 50,052 depositors and total deposit liabilities of 15.98 billion
- Bank is owned by Ridderbrecht BV (11.62%), Apex Bancrights Holdings (10.03%), Lead Bancfund Holdings (10.03%), Extra Year Investments Limited (9.5%), Asiawide Refreshments (8.45%), Medco Asia Investments Corp. (7.86%), and others
- EIB chairman is Jaime C. Gonzalez and president is Juan Victor S. Tanjuatco

Head office: ExportBank Plaza
Chino Roces Ave cor Gil Puyat Ave, Makati
Closed by BSP: April 26, 2012
Taken over by PDIC: April 27, 2012

05
FIRST PROVINCIAL BANK INC (A RURAL BANK)
McArthur Highway, Brgy. Ligtasan
Tarlac City
Has 4 branches: Tarlac City and Paniqui in Tarlac, Mabalacat in Pampanga, and La Trinidad in Benguet
Closed by BSP: April 19, 2012
Taken over by PDIC: April 20, 2012

04
RURAL BANK OF GIGAQUIT (SURIGAO DEL NORTE), INC.
San Isidro, Gigaquit
Surigao del Norte
Closed by BSP:  February 2, 2012
Taken over by PDIC:  February 3, 2012

03
RURAL BANK OF NASUGBU, INC.
J.P. Laurel St.
Nasugbu, Batangas
Closed by BSP:  January 26, 2012
Taken over by PDIC:  January 26, 2012

02
RURAL BANK OF LUNA (LA UNION), INC.
Luna, La Union
Branches in Bacnotan and San Juan
Closed by BSP: January 20, 2012
Taken over by PDIC: January 20, 2012

01
COOPERATIVE BANK OF ILOILO
Bonifacio Drive, Iloilo City
Closed by BSP: January 20, 2012
Taken over by PDIC: January 24, 2012


List of Philippine banks closed in 2011 
List of Philippine banks closed in 2010

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