Another rural bank assures its depositors

CEBU - Allaying the fears of its worried depositors, Rural Bank of Subangdaku (RBS) assured yesterday that it is not going to declare a bank holiday like rural banks under the Legacy Group.

RBS, in a statement emailed to The Freeman, however appealed to its depositors for “patience and understanding.”

RBS noted that worry among depositors is “unavoidable,” especially these days that some rural banks have declared a holiday.

“The Rural Bank of Subangdaku is no exception. It is a victim of the jitters experienced by depositors amidst the backdrop of a world economic crunch that has worsened when some rural banks suddenly declared a holiday,” the statement read.

“When its neighboring rural banks declared a bank holiday, RBS clientele’s knee-jerk reaction has partially affected the bank,” it admitted.

As an effect, depositors of RBS-Talisay branch reportedly panicked after learning of the temporary closure of some rural banks.

The bank reportedly did not admit depositors, who wanted to withdraw their money.

Meanwhile, Hans Melicor, the bank’s Loans department staff, explained that what RBS-Talisay branch did yesterday was only to avoid mass withdrawal.

He clarified that the bank did not close, but only limited withdrawals.

“Ok ra man mi, naglikay lang sa gubot. Naglikay lang hutdon og withdraw sa mga depositors,” he said.

Melicor also clarified that RBS is not part of the Legacy Group. He, however, advised their depositors to not panic, as RBS-Talisay is “very liquid.”—Liv G. Campo/NLQ (THE FREEMAN)