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PHILIPPINE DEPOSIT INSURANCE CORPORATION
Deposits are insured by PDIC up to P500,000 per depositor
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BULLETIN   
BULLETIN NO. 2008-08
TO :All Member Banks
SUBJECT :G7 Bank, A Rural Bank

Pursuant to Section 30 of Republic Act No. 7653 (New Central Bank Act), the Monetary Board of the Bangko Sentral ng Pilipinas issued Resolution No. 961 dated July 31, 2008 prohibiting G7 BANK, A RURAL BANK (“Bank”) with Head Office address at Panganiban Drive corner Concepcion Pequeña, Naga City from doing business in the Philippines and placing the same under receivership with the Philippine Deposit Insurance Corporation (PDIC) as the designated Receiver.

The Bank has six (6) branches, located at the following addresses:

BRANCH ADDRESS
Daraga Branch Poblacion, Daraga, Albay
Ligao Branch City of Ligao, Albay
Naga Branch E. Angeles & Panganiban Sts., Naga City
Polangui Branch Poblacion, Polangui, Albay
Pasig City Branch Unit 1 G-04 Antel Global Tower, Ortigas Center, #3 Doña Julia Vargas Ave., Brgy. San Antonio, Pasig City
Nabua Branch Poblacion, Nabua, Camarines Sur

The PDIC took over G7 BANK, A RURAL BANK, and all its branches, assets, records and affairs on August 1, 2008.


JOSE C. NOGRALES
President
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PDIC is a government instrumentality created in 1963
by virtue of Republic Act 3591, as amended, to insure
the deposits of all banks. PDIC exists to protect
depositors by providing deposit insurance coverage for the depositing public and help promote financial stability. PDIC is an attached agency of the Bangko Sentral ng Pilipinas.
Questions? Need Help? Click Frequently Asked Questions Trunkline.: (632) 8841-4000
Hotline: (632) 8841-4141
(for Metro Manila clients)
Fax No.: (632) 8841-4085
Email: pad@pdic.gov.ph
Client outside Metro Manila may call
Toll Free: 1-800-1-888-7342 or
1-800-1-888-PDIC