MB Resolution No. 159 dated 24 January 2019 Closure and Prohibition of the Bagong Bangko Rural ng Malabang (Lanao del Sur), Inc. From Doing Business in the Philippines

BenOxO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL _2OL9 - OO9 To ALL BANKS AND NON.BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 159 dated 24 January 2019 Closure and Prohibition of the Bagong Bangko Rural ng Malabang (Lanao del Sur), Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 159 dated 24 January 2O\9, decided to close the Bagong Bangko Rural ng Malabang (Lanao del Surl, lnc., pursuant to Section 53 of Republic Act No. 8791 (The General Banking Law of 2000) and prohibit it from doing business in the Philippines. The Philippine Deposit Insurance 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. Sector-in-Charg 24 January 2O19