bf dead link industry finance founded manila philippines 1964 defunct 2011 headquarters makati philippines key people teodoro o. arcenas jr. chairman and president products banking revenue 2.932 billion 37 % 2001 1 number of employees unknown website www.bancofilipino.com banco filipino savings and mortgage bank pse bf or simply banco filipino was a savings and loan association based in the philippines . it is also known for property developments such as bf homes subdivisions in para aque quezon city and las pi as . the bangko sentral ng pilipinas ordered the bank s closure on march 17 2011 and placed it under the receivership of state run philippine deposit insurance corporation pdic saying its liabilities topped its assets by p8 .4 billion . contents 1 2011 closure 2 see also 3 references 4 external links 2011 closure edit banco filipino was closed by the bangko sentral ng pilipinas by claiming that banco filipino has exceeded its assets with 8.4 billion pesos worth of liabilities which is against philippine law which states that a bank s assets must equal or be in excess of its liabilities . however banco filipino claims that it had 31.4 billion worth of properties and 23.8 billion pesos worth of liabilities leaving the savings and mortgage bank with 1.6 billion pesos of positive assets showing that its assets are more than its liabilities which could have been used in its planned rehabilitation . meanwhile the philippine deposit insurance corporation pdic revealed that banco flipino depositors whose accounts had at least p10 000 when the bank went on a holiday would be getting paid starting june 2011 . cristina orbeta executive vice president of the pdic said the pdic has settled 53 percent of the closed bank s deposit liabilities which contained p5 000 or less in their accounts at the time of closure . 2 3 see also edit list of banks in the philippines references edit message from the chairman . bancofilipino.com . archived from the original on february 11 2010 . retrieved january 14 2014 . banco filipino says it has p31 .4 b assets for rehab . yahoo news gma news online . yahoo news network . may 17 2011 . retrieved january 14 2014 . bsp orders banco filipino closed placed under pdic receivership . gma news online . gma network . march 17 2011 . retrieved january 14 2014 . external links edit official website on the internet archive v t e banks in the philippines bangko sentral ng pilipinas universal banks asia united bank bdo bpi chinabank eastwest bank metrobank pnb philtrust psbank rcbc security bank unionbank ucpb government banks al amanah islamic investment bank of the philippines dbp landbank postalbank commercial banks bank of commerce chinatrust citibank hsbc maybank pbcom robinsons bank standard chartered bank veterans bank thrift banks bpi direct savings bank china bank savings citystate equicom philippine business bank plantersbank security bank savings other banks cooperative banks rural banks defunct allied bank merged with pnb banco filipino equitable pci bank merged with bdo retrieved from https en.wikipedia.org w index.php title banco filipino & oldid 739023448 categories banks of the philippines1964 in the philippinesbanks established in 1964companies based in makatibanks disestablished in 2011bank failureshidden categories all articles with dead external linksarticles with dead external links from january 2014pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 12 september 2016 at 10 10 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view