The Philippine Deposit Insurance Corporation (PDIC) reported that it has paid deposit insurance to 75,330 depositors of Banco Filipino Savings & Mortgage Bank (BF) with balances of P5,000 and below, with complete addresses, and without outstanding loans through Postal Money Order (PMO). The PMOs were sent through registered mail to the depositors’ latest addresses in the bank records. PDIC said that total payments for these depositors have reached P86.2 million.

PDIC Officer-in-Charge Executive Vice President Imelda S. Singzon said the Corporation continues to mail payments as soon as these are validated during the examination of accounts. For accounts with balances of up to P10,000 with complete addresses and without outstanding loans, validation and mailing of checks for validated accounts is ongoing.

For accounts with balances of above P10,000, PDIC received almost 70,000 claims during the claims receiving operations (CRO) from April 28 to May 13, 2011. It shall continue to receive deposit insurance claims from depositors of BF at the PDIC Office in Ayala Avenue, Makati City.