The Cooperative Bank of Tarlac (CBT) is a
cooperative bank
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world.
Cooperative banking, as discussed here, includes retail banking carr ...
in the
Philippines, operating out of the province of
Tarlac. Its main base is
Tarlac City, with branches in
Paniqui,
Concepcion,
Capas and
Camiling. The bank, formerly the Cooperative Rural Bank of Tarlac, was established in 1977 following the merger of 108
cooperatives and ''samahang nayons'' in the province into one financial institution. It provides banking services not only to the residents of Tarlac and its farmers in particular, but also to cooperatives that likewise operate in the province.
In 2009, the provincial government of Tarlac was commended by President
Gloria Macapagal Arroyo for providing the level of assistance that it did to the bank, which was unmatched by any other local government unit.
On 24 October 2014 the Monetary Board made a resolution prohibiting the bank from continuing its business. It was then put under the receivership of the state-run PDIC.
References
External links
Cooperative Bank of Tarlac
Cooperative banking in Asia
Banks of the Philippines
Banks established in 1977
Tarlac City
Cooperatives in the Philippines
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