Philippine Banks Closed in 2007

Here’s a list of banks closed by the BSP in 2007:

15   rural banks closed
  2   savings bank closed (Sandigan Savings Bank and Area Development Bank)

17   banks closed

17.  Rural Bank of Malilipot (Albay)
   – Head office at Belen St., Malilipot, Albay
   – Closed by the BSP on December 6, 2007
   – Taken over by the PDIC on December 7, 2007

16.  Orani Rural Bank (Bataan)
   – Head office at 2112 Centro Uno, Orani, Bataan
   – Had 1 branch: Public Market, Orani, Bataan
   – Closed by the BSP on December 6, 2007
   – Taken over by the PDIC on December 6, 2007

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15.  Rural Bank of Milagros (Masbate)
   – Head office in Milagros, Masbate
   – Closed by the BSP on November 29, 2007
   – Taken over by the PDIC on December 3, 2007

14.  Rural Bank of Malabon
   – Head office at 92 Gen. Luna St., Brgy. San Agustin
     Malabon City
   – Closed by the BSP on November 29, 2007
   – Taken over by the PDIC on November 29, 2007

13.  Rural Bank of Sta. Barbara (Pangasinan)
   – Head office in Poblacion Sur, Sta. Barbara, Pangasinan
   – Had 6 branches:
     – Urdaneta, Pangasinan
     – Mangaldan, Pangasinan
     – Tayug, Pangasinan
     – Santa Maria, Pangasinan
     – Asingan, Pangasinan
     – Poblacion East, Calasiao, Pangasinan
   – Closed by the BSP on November 16, 2007
   – Taken over by the PDIC on November 19, 2007

12.  Rural Bank of Laur (Nueva Ecija)
   – Head office at Gen. Tinio St.
     Poblacion, Laur, Nueva Ecija
   – Closed by the BSP on October 25, 2007
   – Taken over by the PDIC on October 26, 2007

11.  Rural Bank of Sebaste (Antique)
   – Head office in Poblacion, Sebaste, Antique
   – Had 2 branches:
     – Poblacion, Numancia, Aklan
     – Boracay, Malay, Aklan
   – Closed by the BSP on August 24, 2007
   – Taken over by the PDIC on August 25, 2007

10.  Sandigan Savings Bank
   – Head office at Canlapan St. corner T. Alonzo St.
     Malolos City, Bulacan
   – Had 6 branches:
     – Pag-asa, Obando, Bulacan
     – Banga, Plaridel, Bulacan
     – Corazon, Calumpit, Bulacan
     – Poblacion, Pulilan, Bulacan
     – San Vicente, Apalit, Pampanga
     – Abangan Sur, Marilao, Bulacan
   – Closed by the BSP on August 24, 2007
   – Taken over by the PDIC on August 24, 2007

9.  Maranao Rural Bank
   – Head office in Moncado Colony, Marawi City
   – Closed by the BSP on August 16, 2007
   – Taken over by the PDIC on August 17, 2007

8.  Rural Bank of San Fernando (Romblon)
   – Head office in Poblacion, San Fernando , Romblon
   – Closed by the BSP on August 2, 2007
   – Taken over by the PDIC on August 7, 2007

7.  Rural Bank of Gen. Aguinaldo (Cavite)
   – Head office at Magallanes St.
     Gen. Emilio Aguinaldo, Cavite
   – Had 2 branches: Amadeo in Cavite and
     Malanday in Marikina City
   – Closed by the BSP on August 2, 2007
   – Taken over by the PDIC on August 2, 2007

6.  Banco Rural de San Antonio (Pangasinan)
   – Head office in San Antonio, Poblacion, Sto. Tomas, Pangasinan
   – Closed by the BSP onMay 24, 2007
   – Taken over by the PDIC on May 25, 2007

5.  New Settlers Bank (A Rural Bank)
   – Head office at Talisay Ave., Parang, Maguindanao
   – Closed by the BSP on June 7, 2007
   – Taken over by the PDIC on June 8, 2007

4.  Excel Rural Bank
   – Head office at 61 G.A. Solis St.
     Lipa City, Batangas
   – Closed by the BSP on June 7, 2007
   – Taken over by the PDIC on June 7, 2007

3.  Area Development Bank
   – Head office at Sambali Center
     Alejandro G. Camara Bldg.
     Iba, Zambales
   – Had 2 branches: Palauig and Sta. Cruz, Zambales
   – Closed by the BSP on May 17, 2007
   – Taken over by the PDIC on May 18, 2007

2.  Rural Bank of Santol (La Union)
   – Head office in Corro-oy, Santol, La Union
   – Had 3 branches: Balaoan and Bangar in La Union
     and in Tagudin, Ilocos Sur
   – Closed by the BSP on February 22, 2007
   – Taken over by the PDIC on February 22, 2007

1.   Rural Bank of Cajidiocan (Romblon)
    – Head Office at R. Magsaysay Ave. cor. Arellano St.
      Poblacion, Cajidiocan, Romblon
    – Had 1 branch: Alcantara, Tablas Island, Romblon
    – Closed by the BSP on February 8, 2007
    – Taken over by the PDIC on February 9, 2007

Failed banks in 2007
Closed banks in 2007

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