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July 21, 2024

BSP shutters Bangko Pangasinan, PDIC takes over for liquidation

Bangko Pangasinan – A Rural Bank, Inc. has been prohibited by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) from conducting business through MB Resolution No 694, dated June 1, 2023.

The Philippine Deposit Insurance Corporation (PDIC) has been directed to proceed with the takeover and liquidation of the bank.

The PDIC assures depositors that valid deposits and claims will be paid up to the maximum coverage of P500,000.00 per depositor and encourages them to attend the Depositors-Borrowers’ Forum in June 28-30, 2023.