LBC Bank is Closed

[scorpionqueen]

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Mao diay ang among silingan nga nagtrabaho sa LBC Bank pila na ka adlaw naa ra sa balay. Gibawi na sad iyang service car. Luoy sad ang mga employees nila.

[Borgy]

BSP: LBC Bank doomed by huge cash advances to LBC Express

I can't post the whole article here because of copyright constraints. Please refer to the source link. Ty

Source: http://business.inquirer.net/18915/b...to-lbc-express

Maybe why banks close like oreint,banca filipino now LBC , kay basin ang deposits will be loan mostly sa parent company or sa lain na business na same group or same lang pud tag iya. sige sila expand sa ilang other business then mu finace ilang banking arm?

[buwad_jo]

its stupid. lbc express existed before lbc bank. lbc express makes more money than lbc bank. lbc express SHOULD HAVE financed lbc bank's operation not the other way around.

I maintain communication with the lbc bank manager. as much as i want to beat him to death, i understand that it wasnt their fault. they were just workers doing their job in good faith.

If this was the case, i could have made a better CEO in lbc. stupid stupid stupid. never never never use the other company to finance the other company. treat it as a different entity. grabiha ka bogo

[cool_romar]

Lesson learned, go to trusted banks with proven and reliable records...

[buwad_jo]

it was not that lbc bank was a new player than brought them crumbling to the ground, it was how dumb and stupid their incumbent board of directors were in doing the operation.

Lbc express existed before lbc bank. lbc express facilitates over millions of remittances by the filipino people abroad. studies show that it is the remittances of our fellow brothers and sisters abroad is one of the reasons thats keeping philippines alive.

therefore it makes sense that lbc express makes more money than lbc bank. lbc express SHOULD HAVE financed lbc bank on its operations not the other way around. Even an ordinary entrepreneur could understand that. If they were that dumb and stupid, i could have made a better ceo than those dumb people up there. grabiha ka bogo.

[kapams]

LBC Express and LBC Development bank are under LBC Group

although they are under the same group, they are still different entities. the closing of lbc bank doesn't affect lbc express in any way. just felt like sharing.

[animazing]

i think its still safe to ship items via LBC express. They have been in the business for decades and I personally believe they are one of the most reliable courier services out there. I hope this incident will not affect them too much.

[kapams]

i think its still safe to ship items via LBC express. They have been in the business for decades and I personally believe they are one of the most reliable courier services out there. I hope this incident will not affect them too much.

i agree with what you said, animazing. even until now, i still continue to use lbc express to send packages. they are still very reliable.

[CocoCrunch]

magsige kog padala og docs sa akong sis sa london grabe 2k+ jud pirmi.

sa depositors, if dagko na amount inyo ideposit adto nalang na sa dagko na banks oi.

[Metz]

louy kaau ofw nga nag deposit ug 2m unya ni retired, dili na ma withdraw iya 2m ang insured kai 500T ra iya makuha.. pildi ug ug 1.5m

really sad.
daghan pajud kinahanglan i-educate about safe financial practices.

If we plan to deposit money in banks limit it to 500k per bank NOT 500k per account. Kay maski 5 500k accounts na, PDIC will only cover one account under your name.

Try to determine pila jud ang need nimo for short term needs, usually gamay rajud ni for the average person but for businessmen they might need a lot. But Im sure most of them protect it by limiting it to 500k per bank. Dili per branch ha but per bank jud. And if dinagko na, they will put it in really big banks.

Any money that you plan to grow, dont keep it in the bank. Better invest in mutual funds or health savings account. 10% or more per year pa ang average return in the long term.

its stupid. lbc express existed before lbc bank. lbc express makes more money than lbc bank. lbc express SHOULD HAVE financed lbc bank's operation not the other way around.

I maintain communication with the lbc bank manager. as much as i want to beat him to death, i understand that it wasnt their fault. they were just workers doing their job in good faith.

If this was the case, i could have made a better CEO in lbc. stupid stupid stupid. never never never use the other company to finance the other company. treat it as a different entity. grabiha ka bogo

Ayala, Henry Sy, and Lucio Tan use this strategy.
LBC followed, but the board of directors gibutang nila kay inutil or gi-abuse.

magsige kog padala og docs sa akong sis sa london grabe 2k+ jud pirmi.

sa depositors, if dagko na amount inyo ideposit adto nalang na sa dagko na banks oi.

Daghan pajud kaayo kinahanglan i-educate. If we want to save or keep cash for emergency use, use big banks. if investment go for mutual funds or better.

As for rural banks, medyo lisod jud samot na if lampas na 500k imo kwarta dira.