The Philippine Deposit Insurance Corporation (PDIC) announced that it is set to deploy a considerable manpower complement starting this week to service the depositors of three closed banks. PDIC will conduct claims servicing operations (CSO) for Growers Rural Bank and GMA Rural Bank of Cavite; and claims receiving operations (CRO) for Banco Filipino.

PDIC Officer-in-Charge Executive Vice President Imelda S. Singzon said that the details, schedules and servicing sites/venues of the abovementioned CSOs and CRO are posted at the PDIC website and in the banks’ respective servicing/ receiving sites. The almost simultaneous PDIC operations in these three closed banks will be undertaken even as the Corporation is going through a leadership transition.

This is not the first time that PDIC has undergone such a transition in leadership. In the last ten years, leadership transition had taken place thrice: in 2003, 2006, and 2007. During all these times, PDIC continued to carry out its mandate of depositor protection and conduct payout operations as soon as possible. The Corporation has policies in place to ensure operational continuity and stability. It is run by professional and highly competent officers and staff. Singzon said that PDIC officers and staff had shown dedication to their jobs, citing that throughout the years, staff had selflessly ensured continuous service to depositors.

In 2006, PDIC was cited second best governed among 31 GOCCs by the Institute of Corporate Directors, in recognition of its strict observance of the principles of transparency, accountability and independence. The ICD is a non-government organization that promotes best practices in corporate governance and corporate social responsibility.