The Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Siargao Bank (A Rural Bank), Inc. reminded borrowers of the bank to continue to pay their loans and transact only with authorized PDIC representatives. Siargao Bank was placed under the receivership of the PDIC by virtue of Monetary Board Resolution No. 919.B dated June 11, 2015.

In a statement, PDIC advised borrowers of Siargao Bank to pay their loans and other obligations directly at any Philippine National Bank (PNB) Branch under account name, PDIC FAO BURL (SIARGAO BANK, INC.). PDIC emphasized that it has not engaged any person, agent or agency to collect the loan payments for and in behalf of the bank.

To ensure proper recording of their payments, PDIC further advised borrowers to keep copies of the PNB Deposit/Payment Slips. The PDIC emphasized that for payments to be valid, it must be supported by a machine-validated PNB Deposit/Payment Slip. Official receipts will be issued by PDIC upon validation of payments and will be sent through mail to the borrowers. For proper accounting of their payments, borrowers who do not receive their official receipts are advised to send a photocopy of their deposit slips by mail to the Deputy Receiver for loans Democrito L. Bitang at the PDIC Office, 5th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino St., Makati City or send via e-mail to Ignacio M. Quintano at imquintano@pdic.gov.ph and to Ms. Thelma A. Peña at tbarias@pdic.gov.ph.

Borrowers of the bank may also communicate with the PDIC-Loans Management Department I at (02) 841-4992 or 841-4766. Queries may also be sent through email at pad@pdic.gov.ph.

Siargao Bank is a three-unit rural bank with Head Office located at 03406 Jose C. Sering Bldg., Borromeo St., Surigao City, Surigao del Norte. Its two branches are located in Dapa and Mainit, both in Surigao del Norte.

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