MB Resolution No. 985.A dated 14 July 2022 Prohibition of the Rural Bank of Polomolok (South Cotabato), Inc. From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUry GOVERNOR I FINANCIAT SUPERVISION SECTOR CIRCULAR LETTER NO. CL.2O22.O59 To ALL BANKSAND NON.BANK FINANCIAL INSTITUTIONS Subject MB Resolution No. 985.A dated 14 July 20.22 Prohibition of the Rural Bank of Polomolok (South Cotabato), Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 985.4 dated 14 July 2022, decided to prohibit the Rural Bank of Polomolok (South Cotabato), 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 Fl.A. No.359l (PDIC Charter), as amended. For information and guidance. G. FONACIER l4July 2022