Bank closures affect 120,000 depositors

Posted at Dec 25 2012 06:55 PM | Updated as of Dec 26 2012 02:55 AM

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MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) shut down 24 banks this year with some P19.5 billion in combined deposits and more than 120,000 account holders.

The failed Export and Industry Bank accounted for the bulk of deposits lost and accountholders hit, at P15.98 billion and 50,092, respectively.

ANC, December 25, 2012