August 20, 2018

The Philippine Deposit Insurance Corporation (PDIC) is set to conduct three Depositors–Borrowers Forums (DBFs) for the closed Rural Bank of Pagbilao, Inc.

On August 23, 2018, the first DBF is scheduled at 9:00 A.M. for depositors of the bank’s Head Office to be held at the Covered Court of the Municipal Hall of Pagbilao, Pagbilao, Quezon. The second DBF is scheduled at 2:00 P.M. at the same venue for depositors of the bank’s Tambak/Market Site Branches.

Lastly, on August 24, 2018, PDIC will hold a DBF for the bank’s Lucena City Branch at 9:30 A.M. at the 4/F Multi-Purpose Hall of the New City Hall Building, Lucena City.

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

Rural Bank of Pagbilao was ordered closed by the Monetary Board (MB) of the Bangko Sentral ng Pilipinas on August 10, 2018.

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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 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.