rural banks - updates

Rappler's latest stories on rural banks


2 courts convict rural bank execs over fraudulent transactions

Dec 31, 2019 - 2:34 PM

The Bangko Sentral ng Pilipinas wins in two cases against two shuttered rural banks in Iloilo and Antique over violations of the General Banking Law of 2000

Convicted. The Bangko Sentral ng Pilipinas wins in its two cases against two rural banks' officers over fraudulent transaction. File photo from BSP

Shuttered AMA Bank refuses to turn over records – PDIC

Nov 15, 2019 - 5:41 PM

PDIC gives employees of AMA Bank of Mandaluyong 24 hours to turn over bank records or face the 'full force of law'

BSP shuts down Maximum Savings Bank, AMA Rural Bank

Nov 09, 2019 - 9:42 PM

(UPDATED) AMA Rura Bank of Mandaluyong says that it will challenge the shutdown order from the Central Bank

Bangko Sentral shuts down Rural Bank of Basey in Samar

May 20, 2019 - 4:55 PM

The Rural Bank of Basey is the fifth bank closed by the Bangko Sentral ng Pilipinas in 2019

CLOSING DOWN A BANK. The Bangko Sentral  ng Pilipinas closes down the Rural Bank of Basey. Rappler file photo

BSP shuts down Batangas-based Tiaong Rural Bank

Aug 03, 2018 - 8:26 PM

Tiaong Rural Bank, Inc. is the 6th problmatic bank to be shut down this year

Bangko Sentral shuts down rural bank in Misamis Oriental

May 02, 2018 - 8:00 PM

The Rural Bank of Initao is the 3rd rural bank to be ordered closed in 2018

SHUT DOWN. Rural Bank of Initao is a single-unit rural bank located in Initao, Misamis Oriental. Available records online shows it had 1,476 deposit accounts, with total deposit liabilities of P46.4 million. Image from Google Maps

4Ps payout agents win P277-M claim vs DSWD

Apr 21, 2017 - 11:04 AM

The CCT program which provides direct cash assistance to the poorest Filipinos owes millions to government partners that facilitated the money transfer

BSP closes 14th bank this year

Aug 03, 2016 - 8:00 AM

BSP data show the number of banks operating in the Philippines declined to 622 as of end March this year from 646 in the same period a year ago

14TH BANK CLOSED. Rural Bank of Alabat is the 14th financial institution closed by the central bank this year. Photo from

Global investment firm TPG Growth takes 40% stake in BDO unit ONB

Jun 20, 2016 - 2:15 PM

TPG Growth an early backer of Uber and Airbnb has a track record of helping mid level firms grow

BSP provides relief to banks in El Niño-hit areas

May 19, 2016 - 3:29 PM

Due to severe drought conditions affecting several provinces borrowers in affected areas will have difficulty paying their loans the BSP says

Fewer Philippine banks in 2015

Mar 28, 2016 - 8:29 PM

The central bank s order to close 14 rural banks in 2015 leads to the continuing decline of established banks in the country

FEWER BANKS. A 2015 law allowing foreigners to fully own Philippine banks helped ease the declining number of institutions in the country

BSP shuts down Cebu rural bank

Feb 01, 2016 - 4:00 PM

This is the second rural bank ordered closed by the Bangko Sentral ng Pilipinas this year

BSP seeks to boost rural banks' competitiveness

Jan 25, 2016 - 6:28 PM

The central bank eyes the consolidation of programs for rural banks amid the entry of foreign lenders

Soured loans of thrift and rural banks fall in H1

Dec 19, 2015 - 10:28 AM

The central bank says it would continue to look into the loan quality of banks as part of its efforts to promote sound credit underwriting standards and financial stability

BSP releases guidelines on rural bank mergers

Dec 16, 2015 - 5:58 PM

The program seeks to encourage consolidations and mergers among rural banks to bring about a less fragmented banking system

Bangko Sentral closes rural bank in Pangasinan

Nov 18, 2015 - 6:29 PM

To verify eligibility for early payments and other concerns Rural Bank of Calasiao account owners are invited to the depositors borrowers forum on November 26

12TH IN 2015. BSP shuts down another rural bank.

BSP approves sweetened perks for rural bank mergers

Aug 22, 2015 - 12:13 PM

BSP says encouraging more mergers among rural banks will bring about a less fragmented banking system in the Philippines

SWEETENED PERKS. The program offers financial and regulatory perks to groups of rural banks serving similar areas to combine operations and create larger institutions

Big PH banks maintain sufficient capital in Q3 2014

Mar 17, 2015 - 7:47 PM

The latest capital adequacy ratios show that universal and commercial banks have sufficient buffer against unexpected losses that may arise during times of stress the central bank says

BDO eyes Mindanao expansion through ONB buyout

Dec 24, 2014 - 11:15 AM

The SM led bank says acquiring ONB is strategic due to its profitable business history

Bad weather hikes bad loans of rural banks

Jun 18, 2013 - 7:35 PM

Bad weather increased the bad loans of rural and cooperative banks in 2012 to 11 57 equivalent to about P14 75 billion of total loan portfolio

BSP closes Laguna rural bank

Feb 10, 2013 - 6:25 PM

The Monetary Board of the BSP places Rural Bank of Majayjay Laguna Inc under the receivership of state owned insurer Philippine Deposit Insurance Corp

Photo by Ramon Velasquez