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LBC Bank -- under receivership by PDIC

angeldust · 127 · 38595

angeldust

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on: Jul 05, 2008, 02:40 AM
I have Royal Earner account with LBC Bank (5 year time deposit). I noticed that recently they had a lot of advertisements on television. I am not really sure if this is a good thing or bad thing.

Good thing because they are able to tap new and broader markets. My understanding would be they would like to tap OFWs and those interested to get loans-car,business.

Bad thing because even the big banks do not opt to have the same scale of advertising spending that LBC Bank is doing. Also, with the catch all medium, there is an inherent risk in this strategy since we do not necessarily know how diligent would these potential borrowers be in paying their loans. Unless they exercise due diligence in screening loan applicants.

Hope you can share your information and thoughts on this matter to appease investors like me.
« Last Edit: Sep 12, 2011, 10:32 PM by FutureGizmo »


voltes5

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Reply #1 on: Jul 05, 2008, 02:51 AM
how much 5 year placement sa time deposit of 250,000?


angeldust

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Reply #2 on: Jul 05, 2008, 02:56 AM
At current rate, I believe 8.75%. The time I placed it's at 10.5%


nicoco

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Reply #3 on: Jul 09, 2008, 05:12 PM
medyo mababa ang 5 years nila better off going to bank of makati you will get your 10 % with that amount.


GAUBAN

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Reply #4 on: Sep 02, 2008, 06:22 PM
im thinking na mag lalagay ako d2 sa LBC bank,ok kya d2??


angeldust

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Reply #5 on: Sep 03, 2008, 10:02 AM
They offer good rates naman.....i'm just not sure on the inherent risk :) I placed 5 yr td in 2006 pa. :)


LAV

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Reply #6 on: Sep 03, 2008, 10:42 AM

They offer good rates naman.....i'm just not sure on the inherent risk :) I placed 5 yr td in 2006 pa. :)


Sir/madame

How much po bigay sainyo for 5yrs? monthly interest po ba?

 :thankyou:


angeldust

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Reply #7 on: Sep 04, 2008, 03:45 PM
in 2006, 10.5%, now I think it's at 8.5%. They usually advertise in national dailies.


AMARANTH

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Reply #8 on: Sep 16, 2008, 01:03 AM
« Last Edit: Sep 16, 2008, 02:56 AM by AMARANTH »


leela

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Reply #9 on: Sep 16, 2008, 12:50 PM
latest interest rates of LBC here...

LBC Bank's Royal Earner Special Savings
http://pinayandmoney.multiply.com/journal/item/7/LBC_Banks_Royal_Earner_Special_Savings


segurista

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Reply #10 on: Oct 19, 2008, 05:57 AM
--------------------------------------------------------------------------------
Mga kapatid at kasama sa rural bank investment magandang balita ang bill na isinusulong ngayon sa congreso na pagtataas ng insurance coverage magmula 250 thou to 500 thousand ito ay maganda para magkaroon ng malawakang tiwala ang taong bayan sa mga banks at lalo na sa mga rural banks pero sa pagtaas ng insurance coverage ay mga pagbabago na gustong idagdag  ang PDIC ITO  ay ang mga sumusunod

1. Increase PDIC's capitalization through an increase in government contribution;
2. PDIC be given authority to conduct independent examination of banks;
3. PDIC be given authority to assess risk premium over and above the existing flat rate of 20 basis points on banks found to be at risk as a result of its independent examination;
4. PDIC be given authority to determine which deposit products are covered by insurance; and
5. PDIC be given the bridge bank authority that will allow the agency to acquire assets and assume the liabilities of a failed bank until a final resolution can be accomplished.
Mr. Nograles said the increased insurance for deposits supported by these five corollary measures would boost depositor protection and confidence.

Mga additional powers or authority  na pwedeng maging daan sa pangaabuso at kawalan ng tiwala sa ating mga institution .....mga rection na nakita natin sa  Proposed PDIC COVERAGE OF 500,000 thousand thread dito sa PINOY MONEY TALK ... Panahon upang magkapit bisig tayong mga rural bank investors upang malaman ang katotohanan sa mga amendments na ito   Simulan natin na makibahagi sa PROPOSED PDIC  COVERAGE of 500,OOO THOUSAND THREAD   DITO SA  PMT  ....BUMISITA SA THREAD AT ALAMIN KUNG PAANO NATIN MAIPAPAKITA SA ATING MGA CONGRESSMAN ANG ATING MGA SALOOBIN TUNGKOL SA MGA  ISSUES NA ITO . SAMA SAMA TAYO NA PAG ARALAN ANG MGA PAGBABAGONG ITO   ...BUMISITA SA NABANGIT NA THREAD ...MARAMING SALAMAT

KASAMANG SEGURITA
« Last Edit: Sep 12, 2011, 10:19 PM by FutureGizmo »


barister98

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Reply #11 on: Jun 11, 2010, 03:21 PM


pasqueflower4

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Reply #12 on: Jun 21, 2010, 09:20 PM
I am actually inclined to make an investment with LBC Bank considering the high rate of interest that they are advertising compared to other banks, but am reluctant to do so for months. Here's the latest news on LBC Bank though --


March 15, 2010:

LBC Bank sued for estafa over pre-need funds

A MANDALUYONG court has ordered the arrest for estafa of eight top officials of the LBC group of companies, including the chairman and president of LBC Development Corp. and the president of LBC Bank.

The Professional Group Inc., a pre-need firm, had earlier sued LBC for refusing to remit P68.15 million that LBC had collected from TPG plan holders here and abroad despite repeated demands.

Presiding Judge Esteban Tacla Jr. issued the arrest warrants on March 2, 2010 after a meticulous evaluation was made on the pieces of evidence presented in court.

The accused are LBC president Juan Carlos Araneta, LBC chairman Carlos Araneta, LBC Express Remittance executive director Javier Montecon, LBC director Joseph Jeffrey Rodriguez, LBC collection head Marilen Aben, LBC Express Remittance vice president Theresa Raneses, LBC Express Remittance president Marilou Olan, and LBC Bank president Eliza Berenguer.

Except for Berenguer, Rodriguez and Ranesesm who remained at large, the rest of the accused have posted P40,000 bail each.

LBC and TPG had previously signed a deal allowing LBC to sell pre-need plans and collect premium payments for TPG.

But LBC's failure to remit premium payments to TPG is said to have caused many plan holders to default despite having paid.

LBC's Web site shows it has over 800 branches in the Philippines and more than 90 abroad. Last year, LBC signed a deal with the Philippine Overseas Employment Administration to give Filipino workers abroad access to LBC Bank�s products and services.

http://www.manilastandardtoday.com/insideNews.htm?f=2010/march/15/news4.isx&d=2010/march/15


So, is still good to invest your money with them?
« Last Edit: Sep 12, 2011, 10:20 PM by FutureGizmo »


GoodSteward

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Reply #13 on: Jun 21, 2010, 10:25 PM
^Wow...never knew that...hmm...thats negative publicity....

if i were to ask, di ako dedeposit dun..

The above news makes me disgust LBC more...

Its becoming a blessing in disguise for me...kwento ko.....

Last year, i brought cash na and went to their branch with my ids...

i have 2 valid ids na, n they were processing it na....i also filled up the form already....then bigla ako hiningian ng birth certificate....i said whats wrong with my ids, wala naman, i said never mind nalang...i kept my money...and they say balik nalang ako with the birth certiicate...i say never mind, and sabay punit sa form na fill up ko and sabay walked out...they wasted my time....

Blessing in disguise kasi if ever na nagloko tong bank (no pun intended), i wont be affected....tama na muna bms bank muna...isa isa... :D




barister98

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Reply #14 on: Jun 24, 2010, 09:20 AM
Roxas is the alter ego of President Noynoy. With this equation how could anything bad happen to LBC bank which is owned by the family of Mar Araneta Roxas.  :watchuthink:


 


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