Philippine Banks Closed Down in 2020

As of July 1, 2020, there had been only 2 Philippine banks closed down by the BSP. This is good news, as we’ve now passed the middle of the year, and no additional closure has been announced.

Last year, 2019, there were 11 banks that failed, mostly rural banks.

1.  Providence Rural Bank, Inc.
– Office address at National Highway cor. Aglipay St.
Brgy. Bulala, Camalaniugan, Cagayan, Cagayan Valley
– Closed down by the BSP on February 27, 2020
– Taken over by the PDIC on February 28, 2020

2.  Rural Bank of Tibiao (Antique), Inc.
– Office address at Gov. A.T. Lim Avenue
Brgy. Poblacion, Tibiao, Antique,
– Closed down by the BSP on February 27, 2020
– Taken over by the PDIC on February 28, 2020

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