In keeping with its commitment to a single digit turnaround time from takeover, state deposit insurer Philippine Deposit Insurance Corporation (PDIC) announced that it would start servicing claims for insured deposits of depositors of the closed Rural Bank of Lilio (Liliw, Laguna) today, June 17, five working days from its takeover of the closed bank.

The PDIC advised depositors to proceed to the bank's offices, all located in the province of Laguna, where they maintained their accounts, during the period designated. However, PDIC informed depositors of Santiago extension office (EO) to file their claims at the premises of RB Lilio's head office located in Bonifacio Street, Liliw, Laguna from June 17 to July 14.

The PDIC claims teams will service depositors Monday to Friday, office hours on the following dates: RB Lilio head office in Bonifacio Street, Liliw - June 17 to July 12; Sta. Cruz branch and Calumpang extension office - June 17 to July 5; and Nagcarlan branch - June 17 to July 7. After said dates, depositors may file their claims at the PDIC Claims Counter located at the 6/F SSS Bldg., Ayala Avenue corner V.A. Rufino St. (formerly Herrera St.), Makati City, Mondays to Fridays, 8:00 a.m. to 5:00 p.m.

RB Lilio was taken over by PDIC on June 10 after the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), by virtue of Monetary Board Resolution No. 777, ordered the bank's closure and placed it under PDIC receivership.

Depositors are advised to present the original evidence of deposit such as savings passbook, certificate of time deposit, bank statements or unused checks; and latest ID with the depositor's signature. Other documents may be required by the PDIC representatives during the processing of claims.

Under the amended PDIC Charter which took effect on August 12, 2004, the new maximum deposit insurance cover is now P250,000. The amended Charter also extended the prescriptive date of filing claims from 18 months to 24 months. The last day for filing claims for the closed RB Lilio is on June 11, 2007.

RB Lilio has total deposit liabilities of P127,274,410.61 and 13,477 deposit accounts as of date of PDIC takeover. end