The Philippine Deposit Insurance Corporation (PDIC), the Receiver of Capitol City Bank, Inc. (A Rural Bank), reminded borrowers of the bank to continue to pay their loans and transact only with authorized PDIC representatives.

In a statement, PDIC advised borrowers of Capitol City Bank to pay their loans and other obligations at any Philippine National Bank (PNB) Branch under the account name, PDIC BURL with Reference Number 2948500011. It further advised borrowers to keep copies of the PNB Deposit/Payment Slips. The Receiver emphasized that only payments with validated PNB Deposit/Payment Slips shall be considered valid payments.

The Monetary Board (MB) placed Capitol City Bank under the receivership of the PDIC by virtue of MB Resolution No. 119 dated January 24, 2013. As Receiver, PDIC took over the bank on January 24, 2013. Upon takeover, all bank records shall be gathered, verified and validated.

Capitol City Bank is a four-unit rural bank with Head Office located along Governor’s Drive, Trece Martires City, Cavite. Its three branches are in Alabang in Muntinlupa City; and in General Trias and Trece Martires City in Cavite. Latest available records show that as of June 30, 2012, Capitol City Bank had 24,812 accounts with total deposit liabilities of P460.72 million. Based on the latest Bank Information Sheet (BIS) submitted by Capitol City Bank to the PDIC, the bank is majority owned by Nellie M. Ilas (47.88%) and Lutgarda P. Morabe (19.2%). Its Chairman is Nellie M. Ilas while its President is Lutgarda P. Morabe.

Borrowers of the bank may also communicate with the PDIC – Loans Management Department I at (02) 841-4760 or 841-4762. Queries may also be sent through email at pad@pdic.gov.ph.

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