Rural Bank of Nabunturan (Compostela Valley), Inc.

December 15, 2021 BANK BULLETIN NO. 2021-24 TO : All BIR Authorized Agent Banks SUBJECT : Rural Bank of Nabunturan (Compostela Valley), Inc. Effective immediately, all Authorized Agent Banks are hereby advised not to accept checks, as well as taxpayers' checks drawn from RURAL BANK OF NABUNTURAN (COMPOSTELA VALLEY), INC. with office address at Purok 10, Echavez St., Brgy. Poblacion, Nabunturan, Davao de Oro, in payment of internal revenue taxes. This is in conformity with the Bangko Sentral ng Pilipinas (BSP) Monetary Board Resolution No. 1588.A dated November 25, 2021 prohibiting the subject bank from doing business in the Philippines and placing it under receivership with the Philippine Deposit Insurance Corporation (PDIC) as the designated receiver, as stated in the letter dated November 29, 2021 of Angel B. Obrero, Officer-in-Charge, Receivership and Bank Management Group of PDIC. For your guidance and strict compliance. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue ATTACHMENT Philippine Deposit Insurance Corporation November 29, 2021 MR. CAESAR R. DULAY Commissioner Bureau of Internal Revenue BIR National Office Building Agham Road, Diliman, Quezon City Dear Commissioner Dulay: Please be informed that, pursuant to Section 30 of R.A. No. 7653 (New Central Bank Act), the Monetary Board, in Resolution No. 1588.A November 25, 2021, prohibited RURAL BANK OF NABUNTURAN (COMPOSTELA VALLEY), INC. ("Bank"), with office address at Purok 10, Echavez St., Brgy. Poblacion, Nabunturan, Davao de Oro, from doing business in the Philippines and directed the PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC) as Receiver to proceed with the takeover and liquidation of the Bank in accordance with Section 2 of R.A. 3591, as amended. The PDIC took over the Bank and its assets, records and affairs on _________________________. Upon the placement of the Bank under liquidation, the powers, functions and duties, as well as the allowances, remunerations and perquisites of the directors, officers and stockholders of the Bank are terminated. Accordingly, the directors, officers and stockholders shall be barred from interfering in any way with the assets, records, and affairs of the Bank. Kindly address inquiries, communications or transactions relating to or involving the Bank to: The Public Assistance Department Philippine Deposit Insurance Corporation Mail/Courier at : 3rd Floor, SSS Building, 6782 Ayala Avenue corner V.A. Rufino Street, Makati City 1226 Hotline : (02) 8841-4141 (for depositors within Metro Manila, during office hours) Toll Free : 1-800-1-888-7342 or 1-800-1-888-PDIC (for those outside Metro Manila, during office hours) Email : [emailprotected] Facebook : www.facebook.com/OfficialPDIC In view of the strict health protocols, visits to the PDIC will be on appointment basis only. Appointment schedule may be secured through telephone, email or Facebook private message with contact details as provided above. Thank you. Very truly yours, (SGD.) ANGEL B. OBRERO Officer-in-Charge Receivership and Bank Management Group