MB Resolution No. 708.A dated 30 April 2018 Prohibition of the Rural Bank of Initao (Misamis Oriental), Inc. From Doing Business in the Philippines

BAN@KO SENTRAL NE PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMI NATION SECTOR CIRCULAR LETTER NO. CL _ 2018 - 033 To AtL BANKSAND NON.BANK FINANCIAT INSTITUTIONS Subject MB Resolution No. 708.A dated 30 April 2018 Prohibition of the Rural Bank of lnitao (Misamis Oriental), lnc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 708.A dated 30 April 2018, decided to prohibit the Rural Bank of lnitao (Misamis Oriental), Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7553 (The New Central Bank Act). The Philippine Deposit lnsurance Corporation has been designated as Receiver with a directive to proceed with the takeover and liquidation of the aforementioned rural bank in accordance with Section 12 (a) of R.A. No.'3591 (PDIC Charter), as amended For information and guidance. I G. FONACIER 30 April 2018 A. Mabini 51., Molate 1004 Manila, Philippines r {6.12} 7Cg-7701 . www.bsp.gov.ph . [email protected]