9.11.2013

Failed Banks in the Philippines, 2003

By Nora
A total of 9 banks failed in 2003, all of them rural banks.  Two were cooperative banks, which are also considered rural banks.

1.  Rural Bank of Echague (Isabela), Inc.
    - Taken over by the PDIC on January 20, 2003
    - Liquidated by the court on June 12, 2003

2.  Bauan Rural Bank (Batangas), Inc.
    - Office at Mangobos St., Poblacion, Bauan, Batangas
    - Taken over by the PDIC on May 8, 2003
    - Liquidated by the court on September 18, 2003

3.  Networth Bank of La Union (Rural Bank of Sto. Tomas, Inc.)
    - Taken over by the PDIC on June 26, 2003
    - Liquidated by the court on November 13, 2003

4.  Rural Bank of Pulilan (Bulacan), Inc.
    - Office in Paltao, Pulilan, Bulacan
    - Taken over by the PDIC on October 2, 2003
    - Liquidated by the court on March 4, 2004

5.  TG Bank (Rural Bank of San Pablo City, Inc.)
    - Taken over by the PDIC on October 2, 2003
    - Liquidated by the court on April 5, 2004

6.  Rural Bank of Bombon (Camarines Sur), Inc.
    - Office in San Isidro, Bombon, Camarines Sur
    - Taken over by the PDIC on October 9, 2003
    - Liquidated by the court on April 15, 2004

7.  Cooperative Bank of Davao Oriental, Inc.
    - Office at Market Site, Lupon, Davao Oriental
    - Taken over by the PDIC on  October 16, 2003
    - Liquidated by the court on April 29, 2004

8.  Rural Bank of Maco (Compostela Valley), Inc.
    - Office along National Highway, Maco, Compostela Valley
    - Taken over by the PDIC on November 6, 2003
    - Liquidated by the court on April 1, 2004

9.  Cooperative Bank of Pangasinan
    - Alexander St., Urdaneta City, Pangasinan
    - Taken over by the PDIC on December 4, 2003
    - Liquidated by the court on April 15, 2004

Sources:
BIR.gov.ph
PDIC.gov.ph

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