Banks Closed by BSP, 2000

In 2000, there were 23 Philippine banks closed by the BSP and taken over by the PDIC.

 1     commercial bank (Urban Bank)
 3     savings banks (Prime Savings Bank, Second Bulacan Development Bank
                                         , and Jade Progressive & Mortgage Bank)
19    rural banks (18 rural banks, 1 cooperative rural bank)

23   failed banks

1.   Prime Savings Bank, Inc.
      – Taken over by the PDIC on January 7, 2000
      – Liquidated by the court on April 27, 2000

2.   Rural Bank of San Miguel (Bulacan), Inc.
      – Taken over by the PDIC on January 21, 2000  
      – Liquidated by the court on June 9, 2000

3.   Rural Bank of San Jacinto (Pangasinan), Inc.
      – Taken over by the PDIC on February 9, 2000  
      – Liquidated by the court on June 9, 2000

4.   Rural Bank of Barbaza (Antique), Inc.
      – Taken over by the PDIC on March 10, 2000
      – Liquidated by the court on August 4, 2000

5.   Rural Bank of Morong (Rizal), Inc.
      – Taken over by the PDIC on March 17, 2000
      – Liquidated by the court on August 11, 2000

6.   Manaoag Rural Bank (Pangasinan), Inc.
      – Taken over by the PDIC on April 7, 2000
      – Liquidated by the court on August 11, 2000

7.   Rural Bank of Tuy (Batangas), Inc.
      – Taken over by the PDIC on April 14, 2000  
      – Liquidated by the court on August 14, 2003

8.  Urban Bank Inc.
      – Closed down by the BSP and taken over by the PDIC on April 26, 2000
     –  Acquired by Export & Industry Bank (EIB) in September 2001
         EIB was closed down by the BSP in 2012

9.   Rural Bank of Balayan (Batangas), Inc.
     – Taken over by the PDIC on April 27, 2000
     – Liquidated by the court on August 14, 2003

10.   Rural Bank of Palayan City (Nueva Ecija), Inc.
      – Taken over by the PDIC on April 27, 2000  
      – Liquidated by the court on September 8, 2000

11.  Rural Bank of Abra De Ilog (Occidental Mindoro), Inc.
       – Taken over by the PDIC on April 29, 2000
       – Liquidated by the court on September 8, 2000

12.  Concepcion Rural Bank (Tarlac), Inc.
       – Taken over by the PDIC on June 16, 2000
       – Liquidated by the court on January 5, 2001

13.  Rural Bank of Dinalupihan (Bataan), Inc.
       – Taken over by the PDIC on June 23, 2000
       – Liquidated by the court on May 3, 2001

14.  Rural Bank of Calatrava (Negros Occidental), Inc.
       – Taken over by the PDIC on July 14, 2000
       – Liquidated by the court on November 24, 2000

15.  Rural Bank of San Pascual (Batangas), Inc.
       – Taken over by the PDIC on July 21, 2000  
       – Liquidated by the court on May 31, 2001

16.  Cooperative Bank of Davao City
       – Taken over by the PDIC on August 11, 2000
       – Liquidated by the court on February 22, 2001

17.  Rural Bank of Gumaca (Quezon), Inc.
       – Taken over by the PDIC on August 11, 2000
       – Liquidated by the court on May 3, 2001

18.  Rural Bank of Bocaue (Bulacan), Inc.
       – Taken over by the PDIC on August 18, 2000
       – Liquidated by the court on May 3, 2001

19.  Rural Bank of Santander (Cebu), Inc.
       – Taken over by the PDIC on September 8, 2000  
       – Liquidated by the court on December 28, 2000

20.  Rural Bank of Urbiztondo (Pangasinan), Inc.
       – Taken over by the PDIC on November 17, 2000  
       – Liquidated by the court on April 5, 2001

21.  Rural Bank of E.B. Magalona (Negros Occidental), Inc.
       – Taken over by the PDIC on November 24, 2000
       – Liquidated by the court on May 10, 2001

22.  Second Bulacan Development Bank
       – Taken over by the PDIC on November 29, 2000  
       – Liquidated by the court on April 10, 2001

23.  Jade Progressive and Mortgage Bank
       – Taken over by the PDIC on December 18, 2000
       – Liquidated by the court on May 17, 2001

Source:
BIR.gov.ph
BSP.gov.ph

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  1. what is the first ever bank merger in the Philippine history?

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