Banco San Juan Explained

Rural Bank of San Juan, Inc.
Type:Private
Foundation:San Juan, Philippines (1953)
Location:Makati, Philippines
Key People:Oscar Inocentes, Chairman
Jobel G. Chua, President and CEO
Num Employees:250
Industry:Finance and Insurance
Products:Financial services
Net Income:unknown

Banco San Juan, formally known as the Rural Bank of San Juan, is one of the largest rural banks in the Philippines, ranking second in terms of resources. The bank is headquartered in Makati, Metro Manila. It has the distinction for being the first rural bank to join an interbank network, namely BancNet, and the rural bank with the largest branch network on the island of Luzon. The bank was founded in 1953. Prior to its acquisition, the bank has at least 30 branches in Metro Manila and Luzon.

On May 28, 2011, it was announced that Banco San Juan was to be acquired by Banco de Oro Universal Bank. The acquisition was formalized on May 2012 after the Bangko Sentral ng Pilipinas (BSP) let the transaction proceed.[1] By May 2023 BSP has closed down its branch in Southern Leyte.[2]

External links

Notes and References

  1. News: Torres . Ted P. . BDO acquires Rural Bank of San Juan . 16 February 2024 . Philstar.com . 29 May 2012.
  2. News: Monetary Board orders closure of another rural lender . 16 February 2024 . BusinessWorld Online . 30 May 2023.