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Philippines
Thursday, March 28, 2024

Bank closed

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The Monetary Board of the Bangko Sentral ng Pilipinas has prohibited Xavier-Tibod Bank Inc., a microfinance rural bank, from doing business effective December 2. Under Resolution No. 2133, the MB directed the Philippine Deposit Insurance Corp. as receiver to proceed with the takeover and liquidation of the two-unit rural bank with head office on Pabayo St., Divisoria, Cagayan de Oro City, Misamis Oriental.

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