The Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Gulf Bank (Rural Bank of Lingayen, Inc.), 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 Gulf Bank to pay their loans and other obligations directly at any Philippine National Bank (PNB) Branch under account name, PDIC FAO BURL GULF BANK. 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. Official receipts will be issued by PDIC upon validation of payments. For proper accounting of their payments, borrowers who do not receive their official receipts are advised to send a copy of their deposit slips by mail to the Deputy Receiver for loans Mary Ann C. Crisostomo at the PDIC Office, 5th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino St., Makati City or send via e-mail to Ms. Crisostomo at mccrisostomo@pdic.gov.ph or to Ms. Bettina Acosta at bnacosta@pdic.gov.ph.

The Monetary Board (MB) placed the Gulf Bank under the receivership of the PDIC by virtue of MB Resolution No. 543 dated April 3, 2014. As Receiver, PDIC took over the bank on April 4, 2014. Upon takeover, all bank records were gathered, verified and validated.

Gulf Bank is a five-unit rural bank with Head Office located at No. 3 Avenida Rizal East St., Lingayen, Pangasinan. Its branches are located in Alaminos, Dagupan City and Mangatarem in Pangasinan; and in Baguio City.

Borrowers of the bank may also communicate with the PDIC – Loans Management Department I at (02) 841-4982 or 841-4764. Queries may also be sent through email at pad@pdic.gov.ph.

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