Author Topic: Rural Bank of Maribojoc Shutting Down?  (Read 3457 times)

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Rural Bank of Maribojoc Shutting Down?
« on: February 01, 2009, 09:53:24 AM »
Rural Bank of Maribojoc Declares Bank Holiday
by Sunday Post

 The ailing  Rural Bank of Maribojoc, Inc. (RBMI) has assured Tuesday  jittery depositors not to worry “because we have enough assets to service the claims of clients”.

 Restituto Tan, owner of the failed bank made the disclosure to the Post, the day after his rural bank in Maribojoc, declared a bank holiday.

 Surprised depositors woke up Monday morning that the bank was turning away transactions because it declared a bank holiday.

 A victim of panic withdrawals, the rural bank management, said in a statement, that everything is well with the bank operations. Whatever that means, it was not explained in the statement.

 In  the same  statement signed by Loy Palapos, the bank’s appointed spokesman, it said the bank management has been in constant contact with the Bangko Sentral ng Pilipinas for the past months in order to be abreast with the latest moves for sustainability and clientele protection. To some observers, this was interpreted to mean  that the bank is seeking a bail out loan from the Central Bank.

 In assuring the public, Tan said, the bank management  has enough real estate assets to cover the excess liability not covered by the insurable interest of P250,000 per account per depositor of the Philippine Deposit Insurance Corp.

 He mentioned from up between P80 million to P100 million in real property assets are under the bank’s control and disposal. The value in assets is well beyond the current  liability level of only about P10 million.

 All deposits of the bank are insured with the PDIC and any excess will be covered by standby company assets.

 In calming the frayed nerves of the clients, Palapos said what was needed was a little patience especially at this adverse time.

 Tested in the banking industry after existing for 31 years, the Rural Bank of Maribojoc followed the fate of the collapsed rural banks affiliated with the Leagacy Group of pre-need companies. The bank, however, is not whtsoever with the besieged Legacy Group.

 In Bohol, thousands of Legacy investors were duped of their hard-earned earnings when they fell into an elaborate Ponzi game which was nothing but another pyramiding scam.

 Legacy’s banking arm in Bohol which folded upon Dec.8 was the Pilipino Rural Bank, Tagbilaran branch.

 Hiding under the guise of a double-your-money financial instrument, the high-yielding offer for mind-boggling interest  crumbled at the first sign that no new  investors fell in line to pay  old maturing obligations. The simple tack of Legacy’s caper: rob Juan, to pay Pablo.

 In the case of the Rural Bank of Maribojoc, it used to be that the same bank offered double-your-money scheme to its depositors.  But according to Tan, it has since been scrapped two years ago. He did not elaborate why the special offer  was scrapped until the Monday debacle. 

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TOPAC

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #1 on: February 02, 2009, 12:45:40 PM »
80 to 100 million in real properties? daghana diay gud. problem with some banks is they kept on speculating on increases in real properties. they should have sold these assets long ago to address their liquidity problems as well as loan excess funds to prospective borrowers. hinaa sad oi.

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raldampong

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #2 on: February 03, 2009, 02:13:42 AM »
mga colateral nang mga yutaa. Ila lang guipangdakop.

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TOPAC

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #3 on: February 03, 2009, 12:55:11 PM »
:-)

fdaray

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #4 on: February 12, 2009, 11:01:52 AM »
Kalooy sa mga depositors.  P100 thousand lang ang ibalik sa PDIC. Ang balance unya na kon mahalin ang ilang mga acquired assets.

Ayaw nag deposit karon in any bank. Sa Land Bank na lang. Ang Land Bank napurdoy kon mapurdoy ang Pilipinas.

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #5 on: February 12, 2009, 01:09:26 PM »
deposits are insured up to 250 thousand regardless of the outcome of the liquidation of the bank's assets.

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fdaray

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #6 on: February 13, 2009, 12:33:48 PM »
Taas na diay karon ang insurance sa PDIC.

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #7 on: February 13, 2009, 12:49:55 PM »
yep, sir.

also, the previous Senate already passed a bill increasing the insurance coverage to 500,000.

we are hoping that the present House will pass their version of the bill so that the bicameral committee can convene sooner.

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #8 on: February 24, 2009, 05:05:59 AM »
I know there were tellers still answering questions up untill last week.
I am sure Leo went there for his freind to check things out.


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dandansoy

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #9 on: June 19, 2009, 03:26:15 PM »
Panawagan lang unta ni sa tanang mga depositors sa Rural Bank of Maribojoc nga maghiusa aron adunay lig-ong tingog nga ipaabot sa PDIC. Ang attention sa PDIC atua lang nagtumong sud sa 6 ka bulan sa mga nasiradong legacy banks branches nga unta ang hinungdan sa pagkasirado sa legacy banks usa man ka sindikato, kansang kadawo ug kahakog, lupig pa ang Buaya sa bulan sa Julyo.

Kita, nga mga tinuoray nga depositors sa Rural Bank of Maribojoc napasagdan na lang. Sukad sa January 26, 2009, wala pa masugdi ang proceso sa pag apod apod ug mga claim forms o unsa pay mga gikinahanglan.

Unsaon na lang ang atong kwarta? Tinuod, nauna ug kasirado ang legacy banks pero mga 3 ka semana ra ang pagitan. Wala pay action hangtud karon?



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fdaray

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #10 on: June 19, 2009, 04:34:36 PM »
The PDIC will return the money to the depositors. It will take time.

Deposit your money in big banks like Land Bank PNB, DBP and BDOs.

Dili madali ma purdoy



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dandansoy

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Re: Rural Bank of Maribojoc Shutting Down?
« Reply #11 on: July 07, 2009, 09:40:49 PM »
Kung walay mo-usig sa PDIC, magsige lang sila ug pangita ug excuses. Pila ba diay ka bulan mag examine sa bank records sa usa ka gamay nga bangko sama sa Rural Bank of Maribojoc? Nganong ang tanang discussion tua ra man na focused sa legacy banks? Unsaon na man lang ang mga depositors sa Rural Bank of Maribojoc? Pastilan!

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