It has come to the attention of the Philippine Deposit Insurance Corporation (PDIC), Statutory Liquidator of closed banks, that former owners and officers of some closed banks are approaching bank borrowers to collect loan payments. Borrowers are advised not to make such payments. Loan payments made directly to former owners or officers of the closed banks or any persons other than authorized PDIC Representatives are not considered valid payments. Hence, these loans will be considered unpaid and still outstanding.

PDIC reiterates that effective upon PDIC takeover, the officers/employees, agents and representatives of closed banks are no longer authorized to transact business or enter into any contract for and in behalf of the bank in whatever capacity. As previously informed in PDIC Forums, letters to borrowers, and posters at the closed bank sites, borrowers of closed banks should pay loans and other obligations only to the PDIC Deputy Receiver or his/her Assisting Deputy Receiver, stationed at the bank premises, satellite offices or at the PDIC Ayala Office in Makati City or at any PNB branch under account name “PDIC FAO BURL” with Reference No. 2948500011. For all payments made, PDIC receipts are issued.

If former owners and officers of closed banks approach you to demand payment of your loans, please report immediately to the PDIC Public Assistance Hotlines (02) 841-4630 to 31, or at fax no. (02) 841-4833 or email at pad@pdic.gov.ph.