Friday, February 08, 2008

Bankwise Closed by BSP Monetary Board

I got a call from a banking industry contact inquiring about the status of Bankwise, a Makati-based thrift bank with braches in Mandaluyong, Las PiƱas, Cebu City, Davao City, and Quezon City of which news was released by the Inquirer as closed by the BSP's MB due to bankruptcy.

Formerly called Dharmala Bank, it's associated with Dante Ang.

With the PDIC receivership, depositors of the insolvent bank are insured up to P250k per depositor.

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