I was watching news report today and I was surprised that LBC development bank was already closed. Although I am not a depositor from this bank, I felt sad for their depositors. It was hard to earn and save money nowadays. The news reported that LBC development bank has over 320,000 depositors amounting to approximately 6 billion pesos.
If you wanted to know more about the status of the banks here in the Philippines, you may visit the financial consumer group of banko central at bsp.gov.ph