The Bangko Sentral ng Pilipinas (BSP) placed the Apex Rural Bank (Bulacan), Inc. under receivership, the first one to be taken over by the Philippine Deposit Insurance Corp. this year, BusinessWorld reported. "Notice is hereby given that the Monetary Board decided to prohibit the Apex Rural Bank from doing business in the Philippines and to place its assets and affairs under receivership," it said in a directive. The supervision and examination sector of the BSP, however, declined to disclose details on the Apex Rural Bank’s financial condition.
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