LBC development bank was closed

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

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2 Responses to LBC development bank was closed

  1. That’s why it’s important to invest or deposit the money in big banks instead of small ones. Katakot baka hindi pa pala stable.

  2. I share your sentiments. Buti nalang hindi affected ang courier service nila. I sent money through their door to door service a few days back. And my brother received it naman on time. Tingin ko mapagkakatiwalaan ang LBC pagdating sa pagpapadala. Originally naman talaga dun sila experts.. Hindi naman talaga sa banking.

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