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PDIC advises borrowers of Rural Bank of Naval (Biliran) to pay their obligations

The Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Rural Bank of Naval (Biliran), 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 the Rural Bank of Naval to pay their loans and other obligations directly at any Philippine National Bank (PNB) Branch under account name, PDIC FAO BURL – Rural Bank of Naval with Reference Number 373-0949-00013. The Receiver cautioned borrowers that it has discontinued the engagement of the bank’s collectors. PDIC has not engaged any person to collect the loans of the bank. To ensure proper recording of payments made by borrowers, 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 the Rural Bank of Naval under the receivership of the PDIC by virtue of MB Resolution No. 866.A dated May 30, 2013. As Receiver, PDIC took over the bank on May 31, 2013. Upon takeover, all bank records shall be gathered, verified and validated.

Rural Bank of Naval is a two-unit bank with Head Office located at P. Burgos St., Naval, Biliran, Leyte. Its lone branch is in Carigara, Leyte. Latest available records show that as of March 31, 2013, Rural Bank of Naval had 2,984 accounts with total deposit liabilities of P137.97 million. According to the latest Bank Information Sheet (BIS) as of December 31, 2012 filed by the Rural Bank of Naval with the PDIC, the bank is majority-owned by Jane Jean Diu (7.94%), Demetrio A. Jaguros (7.79%), Catalina T. Velasquez (7.33%), Cecilia T. Junia (6.57%), Cherry B. Enage (4.71%), Rizalito V. Curso (4.67%), Tomas Matiga (4.38%), Juan V. Pastor (4.05%) and Vicente C. Curso, Sr. (3.94%). Its Chairman and President/Manager is Rizalito V. Curso.

Borrowers of the bank may also communicate with the PDIC – Loans Management Department III at (02) 841-4974 or 841-4663. Queries may also be sent through email at pad@pdic.gov.ph.

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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 permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 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.

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