The Philippine Deposit Insurance Corporation (PDIC) has paid a total of P6.13 billion in deposit insurance claims to depositors of Banco Filipino Savings & Mortgage Bank (BF) as of August 11, 2011. This represents 79% of BF’s total estimated insured deposit of P7.76 billion. Payments have been made to 135,983 accounts or 79% of total deposit accounts of 172,323.

The state deposit insurer reported that of the total payments made, P5.96 billion was paid during the ongoing onsite claims settlement operations. These onsite payments were for 51,090 accounts. The balance of P169.33 million were previously paid to depositors with balances of P10,000 and below, without outstanding loans with BF and who had complete addresses in bank records totaling 84,893 accounts. Payments were made directly to the depositors.

The PDIC reported that the onsite claims settlement operations for BF has been completed for 57 branches and this is ongoing for the last 5 branches until August 19, 2011.

PDIC said that depositors who were unable to file their claims during the onsite CSO may file their claims at the PDIC Office in Makati City starting August 31, 2011.