BSP closes down rural bank | Inquirer Business

BSP closes down rural bank

/ 05:15 AM August 15, 2017

The policymaking Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) has prohibited World Partners Bank (A Thrift Bank) Inc. from doing business in the Philippines.

Under Resolution No. 1340 dated August 11, 2017, the MB directed Philippine Deposit Insurance Corp. (PDIC) to proceed with the takeover and liquidation of the bank.

The head office of World Partners Bank is located in Barangay Poblacion, San Pedro City, Laguna. It has branches each in Meycauayan and Sta. Maria in Bulacan, San Pablo City in Laguna and Tanauan City in Batangas.

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