Export and Industry Bank
|Former type||Public (PSE: EIBA and EIBB)|
|Fate||Under government receivership|
|Key people||Juan Victor S. Tanjuatco, President|
Export and Industry Bank (EIB) (formerly PSE: EIBA and EIBB), also known as Exportbank, was a commercial bank in the Philippines. It acquired Urban Bank in 2001 after the former collapsed due to its closure by the Bangko Sentral ng Pilipinas. It formed in 1996 by the Lippo Group based in Hong Kong. It was placed under receivership by the Philippine Deposit Insurance Corporation (PDIC) on April 27, 2012 after it was closed by the Bangko Sentral ng Pilipinas on the basis of being insolvent. This was after fall-out of a rehabilitation deal between it and Banco de Oro Universal Bank (BDO) but did not push through due to the pending legal matters concerning the bank that stopped short of the deal. Exportbank had liabilities worth around PHP700 to 800 million.
Subsidiaries and affiliates
Exportbank was divided into the following subsidiaries and affiliates:
Former subsidiaries and affiliates
- Urban Building Technologies
- Urbancorp Insurance Brokers
- Urbancorp Realty Holdings
- Urbancorp Technologies Corporation
- Michelle Remo and Tetch Torres (27 April 2012). "BSP closes Export and Industry Bank over liabilities". Philippine Daily Inquirer. Retrieved 27 April 2012.
- Alvin Elchico (27 April 2012). "Liquidity problems, bad luck may have doomed Export Bank". ABS-CBN News and Current Affairs. Retrieved 27 April 2012.