Business

LANDBANK backs LGUs with P10-B emergency loan vs COVID-19

THE Land Bank of the Philippines (LANDBANK) is launching a new lending program to help Local Government Units (LGUs) on the purchase of goods and procurement of services to support their constituents during the COVID-19 crisis. The Bank is allocating P10 billion for the LANDBANK HEAL (Help via Emergency Loan Assistance for LGUs) Program as […]

Business

Veterans Bank’s 3Q nets P505M, ROE kicks at 28.44%

ROBUST as it is, the Philippine Veterans Bank (PVB) reported a strong 3Q Net Income of P504.6M, a 28.44% Return on Equity (ROE) – one of the highest in the banking industry. The net income figure has already exceeded the Bank’s full year target of P500M and is the highest recorded 3Q net income level […]

Business News

Kasunod ng paggunita sa Undras; 2 bangko sa Batangas, isinara ng BSP-MB

By JOENALD MEDINA RAYOS LEMERY, Batangas – TILA nakakita ng multo o anumang kababalaghan ang mahigit isang libong karaniwang mamamayan sa bayang ito at mga karatig-bayan sa Unang Distrito ng Batangas sa pagsapit paggunita ng Undras at masundan ng kung anong kamalasan pagsapit ng Lunes, Nobyembre 4. Ito’y matapos bumulaga sa kanila ang anunsyo ng […]

Business News

Creditors of RB Mabitac (Laguna) have until June 10 to file claims -PDIC

THE Philippine Deposit Insurance Corporation (PDIC) urged creditors of the closed Rural Bank of Mabitac (Laguna), Inc. to file their claims against the bank’s assets on or before June 10, 2019. PDIC reiterated that claims filed after said date shall be disallowed. Creditors refer to any individual or entity with a valid claim against the […]

Business

PDIC starts deposit payment to depositors of the closed Palawan Bank; 4 more banks ordered closed

By JEAN JULIUS P. QUIZON THE Philippine Deposit Insurance Corporation (PDIC) announced that it started mailing Postal Money Orders (PMOs) to all depositors eligible for outright payment who maintained deposits with the closed The Palawan Bank (Palawan Development Bank), Inc. on May 27, 2019, or 15 working days after the bank’s takeover on May 6, […]

Business

3 more banks closed in a week; P1.3B deposits put on hold

 By JOENALD MEDINA RAYOS  Banking industry in the countryside is experiencing another blows over the week as the Monetary Board of the Bangko Sentral ng Pilipinas is prohibiting more banks from doing business in the country and putting them under the receivership of the Philippine Deposit Insurance Corporation (PDIC) for a consequent liquidation. As of […]

News

After BSP closed 26 banks in Batangas, local depositors still hopeful..

Special Report:  By JOENALD MEDINA RAYOS BATANGAS City – UMAASA pa rin ang mga maliliit na negosyo at maging ang publiko sa kabuuan na mananatiling mas mainam na piliin ang pagdedeposito sa bangko kaysa ibang paraan ng pag-iimpok sa kabila ng lumalaking risk sa banking industry sa bansa. Nito lamang Huwebes, Agosto 2, dalawang rural […]

Business News

Bangko sa Batangas, isinara ng BSP; 4,300 depositor apektado

By JOENALD MEDINA RAYOS ROSARIO, Batangas – PANIBAGONG dagok sa sektor ng pagbabangko at sa may 4,300 depositor sa lalawigan ng Batangas ang pagsasara ng isa pang rural bank sa lalawigan nitong nakaraang Biyernes a-trese. Ito ang ikalwang rural bank sa Batangas ngayong 2018 at ika-apat sa loob ng 16 buwan. Sa bisa ng Resolution […]

Business

PDIC raises PHP14.2-M from public bidding of assets

THE Philippine Deposit Insurance Corporation (PDIC) generated a total of Php 14.2 million from the sale of 31 closed banks’ properties at its public bidding held last May 24, 2018 in Cabanatuan City, Nueva Ecija. The bidding yielded an aggregate premium of Php 1.4 million against the aggregate minimum disposal price of Php 12.8 million. Sold […]

Business

PDIC urges creditors of RB La Trinidad to claim payment approved by the Liquidation Court

THE Philippine Deposit Insurance Corporation (PDIC) started to process and settle claims of creditors of the closed Rural Bank of La Trinidad (Benguet), Inc. in April 2018 to implement the Order of the Liquidation Court (Regional Trial Court, First Judicial Region, Branch 10) that approved the closed bank’s Revised Partial Asset Distribution Plan. All creditors […]