Rural Bank of Initao (Misamis Oriental), Inc.

May 16, 2018BANK BULLETIN NO. 13-18TO:All BIR Authorized Agent Banks   SUBJECT:Rural Bank of Initao (Misamis Oriental), Inc. Effective immediately, all Authorized Agent Banks are hereby advised not to accept checks, as well as taxpayers' checks, drawn from RURAL BANK OF INITAO (MISAMIS ORIENTAL), INC. with Head office address at Poblacion, Initao, Misamis Oriental, in payment of internal revenue taxes. This is in conformity with the Bangko Sentral ng Pilipinas (BSP) Monetary Board Resolution No. 708.A dated April 30, 2018, prohibiting the subject bank from doing business in the Philippines and placing it under receivership with the Philippine Deposit Insurance Corporation (PDIC) as the designated receiver, as stated in the letter dated April 30, 2018 of the Officer-in-Charge, Receivership and Bank Management Group of PDIC.For your guidance and strict compliance. ATICcS(SGD.) CAESAR R. DULAYCommissioner of Internal Revenue