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PDIC Starts Payout in the Bank of Cebu on Sept. 8 |
A week from takeover of The Bank of Cebu (A Development Bank), state insurer Philippine Deposit Insurance Corporation (PDIC) will start servicing depositors' claims for insured deposits on September 8, 2006. This is in keeping with PDIC's commitment to start claims servicing in single-digit turn-around-time (TAT) from bank takeover. In a statement, PDIC advised depositors to proceed directly to the branch where they maintained their deposit accounts and present their evidence of deposits such as savings passbooks, certificates of time deposits, or bank statements; and two (2) valid identification cards with depositor's signature to PDIC representatives. PDIC will service claims at the banks' head office and Lapu-lapu, Mandaue and MEPZ branches during office hours, Monday to Friday, from September 8 to September 29, 2006. Claims servicing at the bank's Carcar, Consolacion and Tabunoc branches will also start on September 8 but will end September 22. After said dates, depositors may file their claims personally at the Claims Processing Department, PDIC Extension Office located at the 6/F SSS Bldg., Ayala Avenue corner V.A. Rufino St. (formerly Herrera St.), Makati City or by mail to The Manager, Claims Processing Department, PDIC, 2228 Chino Roces Avenue, 1231 Makati City. As of June 30, 2006, the estimated insured deposits of the bank amounted to P171.30 million representing 7,870 accounts, which is about 70% of the total deposit amount of P244.39 million. Depositors of The Bank of Cebu are given 24 months from bank takeover to file their claims or until September 1, 2008. |
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