• 6 AUGUST - *1907 - Gen. Macario Sakay, one of the Filipino military leaders who had continued fighting the imperialist United States invaders eight years into the Ph...
    4 years ago

......................................................................................

The Daily Tribune

(Without Fear or Favor)

Specials:

Bulatlat.com

World Wildlife Fund for Nature-Philippines

The Philippines Matrix Project

Export Bank collapses; BSP takes over control 04/28/2012

Saturday, April 28, 2012

Export Bank collapses; BSP takes over control

04/28/2012
Mid-size Export Import Bank was placed under government control after declaring a bank holiday yesterday after it admitted that it cannot service its liabilities with depositors and creditors.

The bank was hoping for a rescue from the country’s biggest lender Bando de Oro Universal Bank owned by the group of businessman Henry Sy but negotiations fell through yesterday forcing the bank to declare a bank holiday.

The bank wrote the Bangko Sentral ng Pilipinas (BSP) admitting that it does not have sufficient assets to meet its obligations and unable to continue operations without incurring losses to depositors and creditors..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/headlines/20120428hea5.html

0 comments

There was an error in this gadget

Blog Archive