Closed Banks, Philippines, 2022

Hindi pa natapos ang January, meron nang nasarhan na bangko. Just like in previous years na merong agad sina-shutdown sa January, it was again a rural bank this year that was closed down in the first month of 2022.

1. Rural Bank of San Nicolas (Pangasinan), Inc.

  • Office address at Rizal St., Poblacion East
    San Nicolas, Pangasinan
  • Closed down by the BSP on January 20, 2022
  • Taken over by the PDIC on January 21, 2022

2. Rural Bank of San Lorenzo Ruiz (Siniloan), Inc.

  • Office address at P. Burgos St., Siniloan, Laguna
  • Closed down by the BSP on February 17, 2022
  • Taken over by the PDIC on February 18, 2022

3. Rural Bank of Salcedo (Ilocos Sur), Inc.

  • Office address at Poblacion Norte, Salcedo, Ilocos Sur
  • Closed down by the BSP on March 3, 2022
  • Taken over by the PDIC on March 4, 2022

4. Rural Bank of Mahaplag (Leyte), Inc.

  • Office address at Trasmonte St., Poblacion, Mahaplag, Leyte,
  • Closed down by the BSP on March 10, 2022
  • Taken over by the PDIC on March 11, 2022

5. Metro Cebu Public Savings Bank

  • Head office address at 2nd Floor, Sia Bldg., N. Bacalso Ave., Brgy. Duljo (Pob.) Cebu City, Cebu
  • Closed down by the BSP on March 31, 2022
  • Taken over by the PDIC on April 1, 2022
  • Has 2 branches:
    • Gee Ann Square Mall, N. Bacalso Ave., Brgy. Tabunok, Talisay City, Cebu
    • G.Y. Dela Serna St. Brgy. Poblacion, Lapu-Lapu City, Cebu
  • In the bank’s annual report for the year 2020, the chairman and CEO stated that the COVID pandemic adversely affected the operations and finances of the bank but they said they will persevere. The bank started in 1980 as Talisay Public Savings and Loan Association. In 1986, it acquired Rural Bank of Mactan and Rural Bank of Cordova and increased its capital to 25 million pesos. In 1987, it upgraded into a thrift bank and changed its name to Metro Cebu Public Savings Bank.
  • Metro Cebu Public Savings Bank is the first thrift bank in the Philippines to be closed down during the Covid pandemic era. Before Metro Cebu, the last time a Philippine thrift bank failed was in 2019 when 2 thrift banks were closed down:
    • The Palawan Bank (Palawan Development Bank), Inc. in May 2019
    • Maximum Savings Bank, Inc. in Nov 2019

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