Another bank placed under receivership

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.

Posted: May 18th, 2012 in Editor's Pick,Headlines | Read More »

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