Here’s a list of closed banks in the Philippines 2021.
There were 13 closed banks in 2021. All were rural banks. The first bank to be closed down in 2021 is Occidental Mindoro Rural Bank Inc., and the biggest is OK Bank or Opportunity Kauswagan Bank which has 23 branches, mostly in Iloilo.
Table of Contents:
. List of 13 closed banks in the Philippines (banks closed in 2021).
. Instructions for depositors of recently-closed banks
. List of 2 foreign banks’ representative offices which shut down their offices in the Philippines
1. Occidental Mindoro Rural Bank Inc.
- Office address at OMRI Bldg., Quezon St.
Brgy. Bagong Sikat (Poblacion), Lubang, Occidental Mindoro
- Closed down by the BSP on March 25, 2021
- Taken over by the PDIC on March 29, 2021
2. Palm Tree Bank Inc. (A Rural Bank)
- Head office address at Door #5 Global Agro Building, Kolambog
Lapasan Highway, Cagayan de Oro City
- Had one branch: EC Tanghal Bldg. No. 5, Don Roman Vilo St.
- Closed down by the BSP on April 22, 2021
- Taken over by the PDIC on April 23, 2021
3. Rural Bank of Alimodian (Iloilo) Inc.
- Head office address at Almacen St.
Brgy. Poblacion, Alimodian, Iloilo
- Had one branch: Cabaluna St., Brgy. Poblacion, Leon, Iloilo
- Closed down by the BSP on May 6, 2021
- Taken over by the PDIC on May 12, 2021
4. Rural Bank of Caloocan Inc.
- Head office address at 55 A. Mabini St. corner Damayan St.
Maypajo, Caloocan City
- Had one branch: 571 A. Mabini St., Caloocan City
- Closed down by the BSP on June 24, 2021
- Taken over by the PDIC on June 25, 2021
5. Rural Bank of Datu Paglas Inc.
- Office address at Poblacion, Datu Paglas
Maguindanao, ARMM 9607
- Closed down on August 26, 2021
- Taken over by the PDIC on August 26, 2021
6. Grand Agri Rural Bank, Inc.
- Office address at No. 23 Juarez St. corner Bonifacio St.
Brgy. V, Lucena City, Quezon
- Closed down by the BSP on September 23, 2021
Reference: Circular Letter No. CL-2021-O7O
- This bank was incorporated in 1996 with principal office in Tayabas City, Quezon.
In 2014, GARB was acquired from its original stockholders by Guevent Investment
Development Corp. (GIDC) and other investors.
7. Rural Bank of Santa Fe (Romblon) Inc.
- Office address at 127 P. Contes St., Brgy. Poblacion, Santa Fe, Romblon
- Closed down by the BSP on October 21, 2021
- Taken over by the PDIC on October 26, 2021
8. Kaluyagan Rural Bank Inc.
- Office address at No. 1 Mabini St., Brgy. Mabini (Poblacion)
City of San Carlos, Pangasinan
- Has one branch located at Perez Blvd., Brgy. Herrero, City of Dagupan, Pangasinan
- Closed down by the BSP on October 28, 2021
- Taken over by the PDIC on October 29, 2021
9. United Peoples Rural Bank Inc.
- Head office address at Salazar St., Brgy. Poblacion, Candelaria, Quezon
— M. Paulino St, Brgy. III-A (Poblacion), City of San Pablo, Laguna
— No. 7 Nadera St, Brgy. Angeles Zone III, City of Tayabas, Quezon
- Closed down by the BSP on November 4, 2021
- Taken over by the PDIC on November 5, 2021
10. Rural Bank of Karomatan (Lanao Del Norte) Inc.
- Office address at A & A Parklane, Brgy. Poblacion, Tubod, Lanao del Norte
- Closed down by the BSP on November 11, 2021
- Taken over by the PDIC on November 12, 2021
11. Masantol Rural Bank Inc.
- Head office address at Brgy. San Nicolas (Pob.), Masantol, Pampanga
- Has one branch located at Brgy. Sta. Rita (Pob.), Macabebe, Pampanga
- Closed down by the BSP on November 25, 2021
- Taken over by the PDIC on November 26, 2021
12. Rural Bank of Nabunturan (Compostela Valley) Inc.
- Office address at Purok 10, Echavez St., Brgy. Poblacion, Nabunturan, Davao de Oro
- Closed down by the BSP on November 25, 2021
- Taken over by the PDIC on November 29, 2021
13. Opportunity Kauswagan Bank Inc. (A Microfinance Rural Bank) dba as OK Bank
- Head office address at Unit 2 A&L Bldg., E. Lopez St.
Brgy. San Vicente, Jaro District, Iloilo City
- Has 23 branches:
— Cabasan Bldg., Ricarze St. (San Fernando St.), Barangay 7 (Pob.), San Jose (Capital), Antique
— Mighty Warrior Building, Laureano St., Brgy. Centro Ilaya (Pob.), Bugasong, Antique
— G/F BC Gallar Bldg., Rizal Ilawod St., Zone I Pob. (Barangay 1), Cabatuan, Iloilo
— Highway, Brgy. Caticlan, Malay, Aklan
— Ground Floor, Loveres Bldg., Brgy. Botongan, Estancia, Iloilo
— Block 10 Lot 22, Capitol View, Brgy. San Miguel, Jordan (Capital), Guimaras
— G/F, A&L Bldg., E. Lopez St., Brgy. San Vicente, Jaro District, City of Iloilo (Capital), Iloilo
— Esteban B. Villaruel Bldg., Mabini St., Brgy. Poblacion, Kalibo (Capital), Aklan
— Jafa 4 Bldg., Oñate De Leon St., Brgy. Oñate De Leon, Mandurriao District, Iloilo City
— Zulueta St., Brgy. Ubos Ilawod (Pob.), Miagao, Iloilo
— Brgy. Poblacion Ward IV, Minglanilla, Cebu
— #617, Jose Navarro St., Barangay 8 (Pob.), Ormoc City, Leyte
— 2/F Oton Bldg. Rental, Mabini St., cor. C.M.Recto St. (Rada St.), Brgy. Poblacion West, Oton, Iloilo
— F. Palmares Sr. St., Brgy. Poblacion Ilaya, City of Passi, Iloilo
— Rizal St., Brgy. Ilawod (Pob.), Pontevedra, Capiz
— RY Ladrito St., Brgy. San Jose Ward (Pob.), Pototan, Iloilo
— San Roque St. Ext., Poblacion VIII (Barangay VIII), Roxas City, Capiz
— Western Nautical Highway, Brgy. Poblacion Ilaya, Sara, Iloilo
— Brgy. Poblacion Norte, Sigma, Capiz
— 2F Door A-205, 141 Sto. Niño St., Tacloban City
— #33, Venancio P. Inting Ave., Brgy. Poblacion I, Tagbilaran City, Bohol
— National Highway, Brgy. Cabulihan, Tubigon, Bohol
— Tan -Nene St., Brgy. Poblacion, Ubay, Bohol
- Closed down by the BSP on December 2, 2021
- Taken over by the PDIC on December 6, 2021
Instructions and Contact information for depositors of newly closed banks:
The Public Assistance Department (PAD)
Philippine Deposit Insurance Corp. (PDIC)
6th Floor, SSS Building
6782 Ayala Avenue corner V.A. Rufino St
Makati City 1226
Hotline : (632) 8841-4141 (for depositors within Metro Manila, during office hours)
Toll Free : 1-800-1-888-7342 (for depositors outside Metro Manila, during office hours)
You can also check posters at the premises of the closed bank and other public places within the municipality on the schedule of distribution of PDIC claim forms, receiving of claim forms and the deadline for filing of claims.
If your total balance is 100,000 pesos or below, and you do not have an outstanding loan or obligation, and you did not sign as a co-maker of a loan with the closed bank, you are not required to file a deposit insurance claim. Just make sure your address in the bank’s files are correct, complete and updated.
You can update your address by submitting Mailing Address Update Forms (MAUF) ASAP, either through the dropbox available at the bank premises, or by sending a scanned copy of MAUF form and valid ID to the email address of the closed bank.
Your insurance payment will be mailed to you via postal money order. There’s a target date for mailing.
PDIC Special Power of Attorney Form, in case you need to be represented by your representative
Cessation of Operations by Foreign Banks’ Representative Offices in the Philippines
Wells Fargo Bank NA – Manila Representative Office has ceased operations effective May 31, 2021. Reference: BSP Circular Letter CL-2021-045 dated June 10, 2021
Korea Development Bank – Representative Office in the Philippines has ceased operations effective December 31, 2020. Reference: BSP Circular Letter CL-2021-033 dated April 16, 2021
Reference for closure of Rural Bank of Datu Paglas: Report by philstar.com
Reference: PDIC Bulletinclosed banks in the Philippines 2021