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. 510 dated March 22, 2016 to prohibit RURAL BANK OF MALINAO (AKLAN), INC. ("Bank") with Head Office address at San Juan St., Brgy. Poblacion, Malinao, Aklan 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 five (5) branches located at the following addresses:

The PDIC took over the Bank and all its branches, assets, records and affairs on March 23, 2016.

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.

Furthermore, Section 30 of R.A. No. 7653 provides that the Receiver shall determine as soon as possible, but not later than ninety (90) days from takeover of the Bank, whether the same may be rehabilitated or permitted to resume business; provided, that any determination for the resumption of business shall be subject to prior approval of the MB. In this regard, all qualified parties must manifest in writing their interest to rehabilitate the Bank and submit pre-qualification requirements within ten (10) days from the date of publication or posting of this notice whichever comes first. For the list of requirements you may visit our website at www.pdic.gov.ph.