The Philippine Deposit Insurance Corporation (PDIC) announced that it will start servicing claims for insured deposits in the closed Rural Bank of Cajidiocan (Romblon), Inc. today, February 16, a week after takeover. The Monetary Board (MB) ordered the bank's closure by virtue of MB Resolution No. 173 dated February 8, 2007. The PDIC took over the assets and affairs of RB Cajidiocan on February 9, 2007.

PDIC advised depositors of the Head Office (HO) located at R. Magsaysay Avenue corner Arellano Street, Poblacion, Cajidiocan, Romblon and Alcantara Branch located in Alcantara, Tablas Island, Romblon to proceed directly to the bank premises where they maintained their deposit accounts and present to PDIC representatives their original evidence of deposits such as savings passbook or certificates of time deposit; and two (2) valid identification cards (IDs) with depositor's signature. PDIC will service claims during office hours, 8:00 a.m. to 5:00 p.m., Monday to Friday, until March 8, 2007 in the head office and until March 7, 2007 in the Alcantara branch.

In a statement, PDIC reported that RB Cajidiocan has estimated deposit liabilities amounting to P63.91 million as of December 31, 2006.

Under Section 16(e) of Republic Act 3591, as amended, depositors are given two (2) years from actual takeover by PDIC to file their claims or until February 9, 2009 only.