By Marisol Bo-oc | 09:03 PM July 20, 2024
The Bangko Sentral ng Pilipinas (BSP) has shut down the Cooperative Bank of Bohol.
The BSP’s Monetary Board issued Resolution 818 B dated July 18, 2024 prohibiting the Cooperative Bank of Bohol from doing business pursuant to the provisions of Republic Act 7653 or the New Central Bank Act.
READ: BSP closes Opportunity Kauswagan Bank
The BSP has designated state-run Philippine Deposit Insurance Corp. (PDIC) as receiver and has been tasked to proceed with the takeover and liquidation of the closed rural bank in accordance with its charter under RA 3591.
PDIC took over the bank’s head office and branches in Panglao and Inabanga as well as its assets, records and affairs last Friday.
