affordableCebu
Home » Articles » Banking

Asiatrust Development Bank, Inc. (ATDB) announces permanent closure and cessation of banking operations

ASIATRUST DEVELOPMENT BANK, INC. (ATDB) respectfully gives notice of the permanent cessation of its nation-wide banking operations. Effective June 18, 2012, all ATDB branches will operate as Asia United Bank's branches.
The Permanent Closure and cessation of ATDB's banking operations is pursuant to an Asset Sale and Purchase Agreement (ASPA) executed by and between ATDB and Asia United Bank (AUB) in February 2012, as approved by the Monetary Board under Resolution No. 760 dated 10 May 2012.

For any concerns, notices and queries, kindly contact MR. ROLAND M. GARCIA at 9245796 or 9245644 or email at nextgenesiscorporation@yahoo.com.ph. NextGenesis Corporation will hold its office at 1424 Quezon Avenue, Quezon City.
- https://www.affordablecebu.com/
 

Please support us in writing articles like this by sharing this post

Share this post to your Facebook, Twitter, Blog, or any social media site. In this way, we will be motivated to write articles you like.

--- NOTICE ---
If you want to use this article or any of the content of this website, please credit our website (www.affordablecebu.com) and mention the source link (URL) of the content, images, videos or other media of our website.

"Asiatrust Development Bank, Inc. (ATDB) announces permanent closure and cessation of banking operations" was written by Mary under the Banking category. It has been read 3172 times and generated 0 comments. The article was created on and updated on 19 June 2012.
Total comments : 3
geof [Entry]

Oh, it looks like Ongi boy didn't last that long as president of Yuanta Bank. He and Yuanta would have been a match in heaven. Yuanta is losing money big time.
Avi [Entry]

Why didn't the Garcias appoint Baby Banares as president of Asiatrust instead? Or even the likes of Ed Medrano? Those two showed real competence as presidents in other banks. Why couldn't the Garcias remove their dependence on Ong? That's what mystifies me.
cretinous00 [Entry]

For 15 years, Asiatrust Development Bank was under the (mis)management of that incompetent idiot Dionisio Ong. All he did was lend without security to fellow Chinese who promptly defaulted. Someone must have told him early in life he was qualified to manage a bank.