Another bank placed under receivership

11:17 pm | Friday, May 18th, 2012

The Bangko Sentral ng Pilipinas has placed another financially troubled rural bank under receivership.

The New Rural Bank of Tagkawayan Inc. (NRBTI) was ordered closed Friday by the Monetary Board of the central bank for failing to meet regulatory standards, said the Philippine Deposit Insurance Corp. (PDIC), which serves as the receiver of failed banks.

NRBTI, which is based in Quezon, had seven branches—two in Sariaya, and a branch each in Calauag, Candelaria and Lucena in Quezon. It also had offices in San Juan and Rosario in Batangas.

Citing records dated December 31, PDIC said in a statement that the bank carried P363.44 million in deposits, covering 14,099 accounts.

PDIC assured depositors of NRBTI that payment of deposit insurance would be made upon validation of deposit accounts. Payment of deposit insurance may start by the end of June.

As the receiver, PDIC takes over all of the bank’s liabilities and its remaining assets.

Deposit insurance for all small deposits, or those that are worth P10,000 or less, will be automatically paid. Those who maintain small deposits need not file a claim with PDIC.

Also, deposits worth at least P500,000 are covered by deposit insurance, according to the charter of PDIC.

The BSP and PDIC have expanded a program meant to encourage financially healthy banks to acquire troubled rural banks in the wake of closures.

Under the Strengthening Program for Rural Banks (SPRB), strong rural banks that acquire weak rural banks may receive loans and relief from some regulations.

The other day, the BSP announced that the program had been enhanced and renamed SPRB Plus. Under the new guidelines, the incentives offered to rural banks are now also being offered to thrift and commercial banks.

NRBTI is the fifth rural bank placed under receivership this year.

Earlier, the BSP ordered the closure of the following institutions: First Provincial Bank in Tarlac City, Rural Bank of Gigaquit in Surigao del Norte, Rural Bank of Luna in La Union, and Rural Bank of Nasugbu in Batangas.

In 2011, there were 25 rural banks that were ordered closed by the central bank. Michelle V. Remo

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Short URL: http://business.inquirer.net/?p=60245

Tags: Banking , Business , New Rural Bank of Tagkawayan Inc. (NRBTI) , Philippine Deposit Insurance Corp. (PDIC) , Receivership

http://www.facebook.com/people/Miguel-Ancaja/100001039303833 Miguel Ancaja

We are ordinary employee of a rural bank. we can say that we manage our bank prudently and follows every rules and regulations of CB by the book. Sana make a list also of the RBs that well properly manage and advertise this in your paper. Kasi parang bias and news ibinabalita lang pag isinara na Nadadamay sa masamang balita Rural Banks na well manage naman. Tuloy kasi ang impression ng mga tao ang mga Rural Banks ay delikadong paglagakan ng pera. Tulungan naman ninyo ang nga RBs na mahuhusay may listahan naman ang Banko Sentral kong sino sino ang mga ito. Sa ganitong paraan maaasure ang mga depositors..
novaliches

bakit kapag umutang sa banko kailangan ng collatral dahil kasi walang tiwala ang banko sa umuutang. pero kapag nag-deposit ka sa banko bakit hindi ka nila binibigyan ng collateral, pero sila ay nanloloko din.

http://pulse.yahoo.com/_5KFNA7JXJY62AFNJRPTNU3ZOWY poncy c

Bobo.. kapag nagdeposit ka insured ang pera mo up to php500,000 hindi pa ba sapat na “collateral” yan. Ngayon kung ang pera mo ay more tha 500K, may isip ka naman siguro para gawan ng paraan para macover ng insurance ang MGA deposits mo.

http://profile.yahoo.com/AIYSIJJOL4JNRLHXVTGUH3NYHM The Overlord

Ang bobo ni novaliches! Halatang walang alam sa financial and banking system. Isa ka siguro dun sa mga depositors ng mga banks na nalagay sa receivership no? Hahaha!
novaliches

ang tatalino niyo pala, sana marami rin kayong pera, o baka naman puro dada lang kayo, pero butas ang bulsa. malamang kayo yung magaling sa mga kwentuhan, pero pag-tinanong kung may pera wala din pala.

libo libo ang nag-bibiktima ng mga financial company katulad ng bangko, educational fund, etc. puro bobo ba ang mga magulang doon. ang kulang ay protection sa depositor.

Sa US ang deposit insured by $250k. pag-bumagsak ang banko papasok ang fed ng friday, by monday bukas kaagad ang banko iba na ang may-ari, hindi halos mahalata ng depositor, parang nag-iba lang ang pangalan ng banko.
http://profile.yahoo.com/AIYSIJJOL4JNRLHXVTGUH3NYHM The Overlord

1 Point pa rin sa amin, nova. You merely embarrassed yourself by replying with such weak argument.

First, yes, marami ang nabibikitima ng bangko, educ. fund, etc. because bobo rin naman ang karamihan not to become discriminate as to where to deposit. Duh, nakita lang nila na malaki ang kikitain interest, deposit na kaagad. People with brains do research, look at the company’s financial stability, reputation, etc. Yung mga depositors ng mga nagsarang bangko are partly to blame. Greed overcame their intellect. Like I said, mas maraming stable na bank dyan like BDO and BPI but noooooo, dun sila nag-deposit sa isang rural, unknown bank na wala namang kakayahan to meet their obligations.

Second, why are you comparing the US and the Philippines? DUH! Bobo talaga. The US is the richest country in the world in terms of GDP. Malakas ang laws nila regarding finances. Bakit mo naman ikukumpara ang US sa isang god-forsaken, third world dump like the Republic of the Philippines kung saan people can easily hide their foreign currency deposits para hindi ma-scrutinize.

Shet, bobo talaga. And yes, marami akong pera, and I never place all my eggs in one basket. I keep my money invested across reputable banks. Andaming options like mutual funds, stocks, bonds, time deposits, etc. na I don’t need to even deposit my money in some unknown rural bank na di naman sigurado ang future ng money ko dun. It’s all about financial literacy to make the most of your money. Sad to say, people who deposit in rural banks don’t have the brains to discern.
novaliches

Mr Genius, kung insured naman ang deposit to 250k, e ano ang kinatatakot mo. sa malaking banko, ang liit ng interest pero kung patubuan nila sa iba, ang laki din ng interest. bakit ba lumaki ang mga “refutable” bank na yan, dahil sa laki ng kita dahil sa mga depositor na tulad mo. ngayon sino ang bobo.
http://www.facebook.com/people/Miguel-Ancaja/100001039303833 Miguel Ancaja

Well I believe your are well informed . a Financial Savvy
But don,t under estimate people who deposit in RB they also help in our economy. People borrow money from RB are small Farmers / Traders /Small businessman which are not accommodated by Big banks for they are mahirap. But I say thers people you say that they dont have brains feeds you by their produce. Baka mga kamaganak mo once belong to these group. Sobra kang mapagmataas at mataras ang iyong mga pananalita. Kristiayo ka ba? Diyos ka ba na humahatol sa kanila?

Hinay lang…Cool.

http://profile.yahoo.com/AIYSIJJOL4JNRLHXVTGUH3NYHM The Overlord

(Di na ako maka-reply sa comment mo sa baba so dito na lang.)

Ikaw pa rin ang bobo! ANO DAW! “Refutable” bank? HAHAHA! Iba ang “reputable” sa “refutable” bobo! Oo, insured up to 250k ang pera mo ng PDIC pero di hamak na mas malaki ang interest na makukuha mo when you invest in MFs, bonds, stocks, rather than gamble your money in unknown rural banks. Shet, ang bobo mo talaga, pasalamat ka I’m wasting time to educate you.

Would you rather place your money in a safe and secure bank or deposit them in rural banks na baka bukas magsara na? Yes, insured nga ng PDIC pero you’ll have to go through all the trouble to file papers just to process your claim.

Andaming options na available that are SOOOO much better than placing them in rural banks. Kaw na bahala mag-research dun.

Ikaw na magdeposit sa “refutable” bank mo ha? HAHAHA! Ambobo shet!

http://profile.yahoo.com/AIYSIJJOL4JNRLHXVTGUH3NYHM The Overlord

At bakit naman kasi mag-ri-risk ang depositors na mag-open ng accounts in unknown financial institutions like rural banks eh meron namang stable banks like BPI, BDO, etc. na di hamak na mas maraming branches sa buong bansa. Oh I know why. Kasi gahaman kayo sa interest! Yan ang napala nyo. Ang sakim nyo na makakuha ng mas malaking interest o ayan, nagsara na siya. Serves you right!

http://pulse.yahoo.com/_ITE4Z5BIUZYXI5S7Q2AKDYOM5I Budoy

sadly, mas marami kasi ang hindi financially literate sa bansa kaya ganyan. kahit nga yung mayayaman nagsusubok din maglagay ng kaunti sa mga small banks. mahirap kontrollin ang “GREED.”
dodong1

gusto kasi maging instant millionaire sila yan tuloy instant loser lahat ang mga depositors ..
http://pulse.yahoo.com/_5KFNA7JXJY62AFNJRPTNU3ZOWY poncy c

Its risk and reward…
http://profiles.yahoo.com/u/J4X5RZIRHCGVSXJWSH7DEFN6WI rodger66

living in the city side where business and personal income is not as great as thuz in the city, you cannot expect big banks to be built kaya most likely mga rural banks.People knows the risk of being robbed and killed kung sila mismo ang magtago ng pera kaya kung ano ang pinakamalapit at convenient na banko well surely doon nila i-deposit and its not the interest that you think.Do you think a small bank can or would compete bigger banks thru interest rate???Not in my business view.Most likely ang dahilan ay ang kawalan ng depositors tapos malaki ang lumalabas ng pera (loans/withdrawals) while waiting for 30 day cycle ang on hand assets might not be able to sustain sa demand ng mga depositor.So karaniwan, ang withdrawal ng customer ay hindi maibigay…minsan pabalik-balik ka pa.One good example is what happened to LBC na muntik ng ma-closed.The problem starts with their money transfer in seconds to the reciever…

http://profile.yahoo.com/AIYSIJJOL4JNRLHXVTGUH3NYHM The Overlord

Many big banks have deposit plans suited for people with minimal income. It’s all about awareness. For example (and no, I am not an employee there), BPI has a deposit scheme na ginawa talaga for people leaving in the countryside with minimal income lang; I just forgot the exact name.

I will not blame those who deposited in rural banks because wala na talagang choice. But of course, if you have come across rural banks, most of their clients are actually powerful businessmen who opened accounts to take advantage of the high interest rates not available in mainstream universal banks. Mga sakim ika nga. Like I said, serves them right that this happened.

Another bank placed under receivership

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