Lapu-Lapu Rural Bank, Inc.

January 29, 2016 PDIC BULLETIN NO. 02-16 TO : All Member Banks SUBJECT : Lapu-Lapu Rural Bank, Inc. Pursuant to Section 30 of Republic Act No. 7653, (New Central Bank Act), the Monetary Board of the Bangko Sentral ng Pilipinas decided in its Resolution No. 121 dated January 28, 2016 to prohibit LAPU-LAPU RURAL BANK, INC. ("Bank") with Office address at Sta. Catalina St., Brgy. Poblacion II, Carcar City, Cebu from doing business in the Philippines and to place the Bank under receivership with the Philippine Deposit Insurance Corporation (PDIC) as the designated Receiver. aScITE The PDIC took over the Bank and its assets, records and affairs on January 29, 2016. Please be advised that upon takeover of the Bank by PDIC as Receiver, all officers and employees of the Bank cease to have any authority to act for and in behalf of the Bank in whatever capacity. Furthermore, Section 30 of R.A. No. 7653 provides that the Receiver shall determine as soon as possible, but not later than ninety (90) days from takeover of the Bank, whether the same may be rehabilitated or permitted to resume business; provided, that any determination for the resumption of business shall be subject to prior approval of the MB. In this regard, all qualified parties must manifest in writing their interest to rehabilitate the Bank and submit prequalification requirements within ten (10) days from the date of publication or posting of this notice whichever comes first. For the list of requirements you may visit our website at www.pdic.gov.ph. MA. ANA CARMELA L. VILLEGAS EVP & Officer-in-Charge Receivership and Liquidation Sector