MB Resolution No. 1521.A Dated 19 September 2013: Placement of the Rural Bank of Hagonoy (Davao del Sur), Inc. under Receivership

September 19, 2013

BSP MEMORANDUM NO. M-2013-043

TO:All Banks and Non-Bank Financial Institutions
SUBJECT:MB Resolution No. 1521.A Dated 19 September 2013
Placement of the Rural Bank of Hagonoy (Davao del Sur), Inc. under Receivership

Notice is hereby given that the Monetary Board, in its Resolution No. 1521.A dated 19 September 2013, decided to prohibit the Rural Bank of Hagonoy (Davao del Sur), Inc., from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act).

The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned rural bank.

For information and guidance. ACETIa

(SGD.) DR. JOHNNY NOE E. RAVALO
Sector-in-Charge

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

Mobile No. +639451244898
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