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PHILIPPINE DEPOSIT INSURANCE CORPORATION
Deposits are insured by PDIC up to P500,000 per depositor
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PDIC advises borrowers of Sarangani Rural Bank to pay their obligations

The Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Sarangani 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 the Sarangani Rural Bank to pay their loans and other obligations directly at any Philippine National Bank (PNB) Branch under account name, PDIC FAO BURL – SARANGANI RURAL BANK 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 Sarangani Rural Bank under the receivership of the PDIC by virtue of MB Resolution No. 2022 dated December 5, 2013. As Receiver, PDIC took over the bank on December 6, 2013. Upon takeover, all bank records were gathered, verified and validated.

Sarangani Rural Bank is a single-unit bank located along P. Acharon Blvd., General Santos City, South Cotabato.

Borrowers of the bank may also communicate with the PDIC – Loans Management Department II at (02) 841-4761 or 841-4776. 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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PDIC is a government instrumentality created in 1963
by virtue of Republic Act 3591, as amended, to insure
the deposits of all banks. PDIC exists to protect
depositors by providing deposit insurance coverage for the depositing public and help promote financial stability. PDIC is an attached agency of the Bangko Sentral ng Pilipinas.
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Hotline: (632) 8841-4141
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Fax No.: (632) 8841-4085
Email: pad@pdic.gov.ph
Client outside Metro Manila may call
Toll Free: 1-800-1-888-7342 or
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