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PDIC takes over Bataan-based Rural Bank |
The Philippine Deposit Insurance Corporation (PDIC) took over Orani Rural Bank on December 6, 2007 after the Monetary Board (MB) ordered the closure of the bank by virtue of MB Resolution No. 1378 dated December 6, 2007. Its head office is located in Orani, Bataan while its lone money shop is situated at the public market of Orani, Bataan. Latest available records show that as of June 30, 2007, the bank's estimated total deposit liabilities was P256.58 million. In a statement, PDIC said that upon takeover, all bank records would be gathered, verified and validated in preparation for the claims settlement operations. The deposit insurer advised depositors of Orani Rural Bank to wait for further announcement on the schedule of claims servicing. Under Republic Act 9302 that amended the PDIC Charter effective August 12, 2004, the maximum deposit insurance coverage is now P250,000 per depositor. Borrowers of the bank are advised to transact only with the duly authorized employees of PDIC assigned at the bank. |
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