NEWS/PRESS RELEASE
PR-056-19
Date of Release: May 23, 2019
FOR IMMEDIATE RELEASE

The Philippine Deposit Insurance Corporation (PDIC) is set to conduct eight Depositors – Borrowers Forums (DBFs) for the Head Office and branches of the closed The Palawan Bank (Palawan Development Bank), Inc.

Three DBFs are scheduled on May 27, 2019 for the following branches: 1) Brooke’s Point Branch at 9:00 A.M. at the Octagon Covered Gymnasium (Public Plaza), Poblacion, District 2, Brooke’s Point, Palawan; 2) Quezon Branch at 2:00 P.M. at the Diwata Hall, Poblacion, Quezon, Palawan; and 3) Carcar, Minglanilla and Naga Branches at 9:00 A.M. at the Enan Chiong Activity Center, East Poblacion, Naga City (beside City Hall), Cebu.

Two DBFs are scheduled on May 28, 2019 for the following: 1) Head Office at 9:00 A.M. at the Puerto Princesa City Coliseum, San Pedro, Puerto Princesa, Palawan; and 2) Liloan Branch at 9:00 A.M. at the Sta. Cruz Learning Center Covered Court, Landing, Catarman, Liloan, Cebu.

The DBF for Taytay Branch is scheduled on May 29, 2019 at 9:00 A.M. at the Taytay Municipal Covered Court, Taytay, Palawan.

On May 30, 2019, the DBF for Roxas Branch is scheduled at 9:00 A.M. at the Roxas Municipal Gymnasium, Barangay 2, Roxas, Palawan.

The last DBF to be conducted is for Narra Branch on May 31, 2019 at 9:00 A.M. at the Narra Centerpoint (near Municipal Hall), Narra, Palawan.

The requirements and procedures for filing deposit insurance claims and settlement of loans will be explained during the forums.

The Palawan Bank (Palawan Development Bank), Inc. was ordered closed by the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) on May 2, 2019. PDIC took over the bank on May 6, 2019.

For further information, depositors and borrowers may call the PDIC Public Assistance Department at (02) 841-4630. Those outside Metro Manila may call the PDIC toll-free hotline at 1-800-1-888- PDIC or 1-800-1-888-7342. Inquiries may also be sent via e-mail to pad@pdic.gov.ph or by private message to PDIC’s Facebook page, @OfficialPDIC.

* * * * *

The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PhP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.

Corporate Communications Dept.
PHILIPPINE DEPOSIT INSURANCE CORPORATION
Tel: (02) 841-4637 / Fax (02) 841-4833
Trunkline: (02) 841-4000
Website: www.pdic.gov.ph.
Email: ccd@pdic.gov.ph
Facebook: www.facebook.com/OfficialPDIC
Twitter: www.twitter.com/OfficialPDIC