Pursuant to Section 30 of Republic Act No. 7653, (New Central Bank Act), the Monetary Board of the Bangko Sentral ng Pilipinas decided in its Resolution No. 1012.A dated June 28, 2012 to prohibit RURAL BANK OF NAGUILIAN (LA UNION), INC. (“Bank”) with Head Office address at Natividad, Naguilian, La Union from doing business in the Philippines and to place the Bank under receivership with the Philippine Deposit Insurance Corporation (PDIC) as the designated Receiver. The Bank has one (1) branch located at San Fernando City, La Union.
The PDIC took over the Bank and its branch, assets, records and affairs on June 29, 2012.
Please be advised that upon takeover of the Bank by PDIC as Receiver, all officers and employees of the Bank cease to have any authority to act for and in behalf of the Bank in whatever capacity.
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LILIAN I. SERNA
Officer-in-Charge
Receivership & Bank Management,
Loans Management and Receivership &
Liquidation Support Groups
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June 29, 2012
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