2.05.2013

Philippine Banks Closed by BSP in 2013

By Nora
Over the past 5 years, a total of 133 banks in the Philippines have failed, and most of them were rural banks, based on data published on the website of the Philippine Deposit Insurance Corp. (PDIC)


2012 24 failed banks
              (1 commercial bank, 22 rural banks, 1 coop bank)
2011:  29 failed banks
              (4 savings banks, 25 rural banks, 0 coop bank)
2010:  25 failed banks
              (1 savings bank, 21 rural banks, 3 coop banks)
2009:  31 failed banks
              (2 savings banks, 27 rural banks, 2 coop banks)
2008:  24 failed banks
              (0 savings bank , 22 rural banks, 1 coop bank)

Philippine Banks That Failed in 2013

  as of January 10, 2014:

.  A total of 18 banks failed in 2013
.  All of them were rural banks.
.  The biggest was Cooperative Rural Bank of Bulacan 
which had 2.17 billion pesos in total deposit liabilities
when it was closed.

18.  Sarangani Rural Bank, Inc.
       - Office along P. Acharon Blvd., General Santos City
             South Cotabato
       - Had total deposits of 45.57 million as of September 2013
       - Almost all of the 2,407 accounts, owned mostly by
             market vendors, are fully covered by PDIC
       - Closed by the BSP on December 5, 2013
       - Taken over by the PDIC on December 6, 2013

17.  Rural Bank of Alaminos (Laguna), Inc.
        - Head Office address: No. 99 Rizal St.
            Alaminos, Laguna
        - Had 2 branches: Sto. Tomas, Batangas
             and San Pablo City, Laguna
        - Closed by the BSP on November 14, 2013
        - Taken over by the PDIC on November 15, 2013

16.  Rural Bank of Catubig (Northern Samar), Inc.
        - Office address: Poblacion Catubig, Northern Samar
        - President: Nelida J. Uy
        - Closed by the BSP on November 7, 2013
        - Taken over by the PDIC on November 7, 2013

15.  Rural Bank of Hagonoy (Davao Del Sur), Inc.
       
- Office address: Guihing, Hagonoy, Davao del Sur
        - Closed by the BSP on September 19, 2013.
        - Taken over by the PDIC on September 20, 2013

14.  Rural Bank of Sto. Tomas (Davao Del Norte), Inc.
       - Head Office address along R. Magsaysay Ave.
          Sto. Tomas, Davao del Norte
       - Had 2 branches: Braulio E. Dujali and Asuncion
          in Davao del Norte
       - Closed by the BSP on September 13, 2013
       - Taken over by the PDIC on September 16, 2013

13.  Rural Bank of La Trinidad, Inc.
       - Head Office at Solis Bldg., JC 105, Km. 5,
         Pico, La Trinidad, Benguet
       - Had 1 branch: AB Fernandez Ave., Dagupan City
       - Closed by the BSP on August 15, 2013
       - Taken over by the PDIC on August 22, 2013

12.  Rural Bank of San Jose del Monte, Inc.
       - Head Office at 204 Quirino Highway, Tungkong Mangga
          San Jose del Monte City, Bulacan
       - Had 3 branches:
        - McArthur Highway, Apalit, Pampanga
        - McArthur Highway, Meycauayan, Bulacan
        - Sapang Palay, San Jose del Monte, Bulacan
      - Closed by the BSP on August 1, 2013
      - Taken over by the PDIC on August 2, 2013


11.  Quezon Traders Rural Bank of Candelaria
         (Quezon), Inc.
      - Office at Cabunag St., Pahinga I, Poblacion
        Candelaria, Quezon
      - Closed by the BSP on July 11, 2013
      - Taken over by the PDIC on July 12, 2013

10.  Rural Bank of San Fernando (Cebu) Inc.
     -  Office in San Fernando, Cebu
     -  Closed by the BSP on July 4, 2013
     -  Taken over by the PDIC on July 5, 2013

9.  Rural Bank of Borongan (Eastern Samar) Inc.
   - Office address at J. Bocar corner Cardona St.,
      Borongan, Eastern Samar
   - Closed by the BSP on June 14, 2013
   - Taken over by the PDIC on June 17, 2013

8. Rural Bank of Naval Inc.
   - Head Office at P. Burgos St., Naval, Biliran, Leyte
   - Had 1 branch, located in Carigara, Leyte
   - Closed by the BSP on May 30, 2013
   - Taken over by the PDIC on May 31, 2013

7. Cooperative Rural Bank of Bulacan
   - Head office in Banga I, Plaridel, Bulacan
   - Had 17 branches
   - Had 44,388 bank accounts with total deposits
      of 2.17 billion pesos
   - Closed by the BSP on May 23, 2013
   - Taken over by the PDIC on May 24, 2013
 
6. Rural Bank of Kinogitan (Misamis Oriental), Inc.
   - Office address in Kinogitan, Misamis Oriental
   - Closed by the BSP on March 26, 2013
   - Taken over by the PDIC on March 27, 2013

5. La Consolacion Rural Bank, Inc.
   - Office at CCP Bldg., National Highway, Landayan,
      San Pedro, Laguna
   - Closed by the BSP on March 15, 2013
   - Taken over by the PDIC on March 15, 2013

4. Rural Bank of Buenavista (Agusan Del Norte), Inc.
   - Head Office in Buenavista, Agusan del Norte
   - One branch in San Francisco, Agusan del Sur
   - Closed by the BSP on March 4, 2013
   - Taken over by the PDIC on March 4, 2013

3. Rural Bank of Majayjay (Laguna), Inc.
   - Head Office at P.Zamora St., Majayjay. Laguna
   - Closed by the BSP on February 7, 2013
   - Taken over by the PDIC on February 8, 2013

2. Rural Bank of Gainza (Camarines Sur), Inc.
   - Head Office in Poblacion, Gainza, Camarines Sur
   - Closed by the BSP on January 31, 2013
   - Taken over by the PDIC on February 1, 2013

1. Capitol City Bank Inc. (A Rural Bank) 
   - Head office at Governor's Drive, Trece Martires City, Cavite
   - Closed by the BSP on January 24, 2013
   - Taken over by the PDIC on January 24, 2013

Philippine Banks Closed Down in 2015
Banks Closed Down in 2014

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