The BSP prohibited the Rural Bank of Polomolok (South Cotabato) from doing business in the Philippines through MB Res. No. 985-A dated July 14, 2022, which also directed the PDIC, as Receiver, to proceed with the takeover and liquidation of the bank. PDIC took over the bank on July 18, 2022.
Note: PDIC reminds borrowers of the closed Rural Bank of Polomolok (South Cotabato) to pay their loans notwithstanding the closure of the bank. Borrowers may pay directly at any PNB branch, through postal money order (PMO) or check, or personally at the PDIC Public Assistance Center.
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