MB Resolution No. 1253.B dated 23 September 2021 Prohibition of the Grand Agri Rural Bank, Inc. From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL -2021 - O7O To: ALL BANKS AND NON.BANK FINANCIAL INSTITUTIONS Subject: MB Resolution No.I253.B dated Zl September2O2l Prohibition of the Grand Agri Rural Bank, Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 1253.8 dated 23 september 2c.21, decided to prohibit the Grand Agri Rural Bank, Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act), as amended. The Philippine Deposit Insurance Corporation has been designated as Fleceiver 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 (PD|C Charter), as amended. For information and guidance. G. FONACIER 23 September 20.21 -:.;.:t:::::::.-:.-..-.:..:_.:.-.:-..._.--: -.:. .'. .'..'.... . : :.:"'. - -"---'-:.;'-:-..'.-'.-'.-' ,,' ,' ,' ,' :.'.,.'...'.....------.----_--_--: j- -- _ .- . .: : ; r: , , , r',;.;:::::.::::;:;';.7':jr: j:i:..;a..:; , ' :::i:.:-.:,'*li::::-.i,.;, *:::i::tlij:iii;;,t ::t ,:,*;,;;i!:i;::it;;;;i;:;i:,i:i: ,' ,' -' .' ;;:;:;:;;; : :i:ii ; i i:ii=,:,::f