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BULLETIN NO. 2022-02


Please be informed that, pursuant to Section 30 of Republic Act (RA) No. 7653 (New Central Bank Act), the Monetary Board, in Resolution No. 210.B dated February 17, 2022, prohibited RURAL BANK OF SAN LORENZO RUIZ (SINILOAN), INC. (“Bank”), with office address at P. Burgos St., Siniloan, Laguna, from doing business in the Philippines. The same Resolution directed the PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC) as Receiver to proceed with the takeover and liquidation of the Bank in accordance with Section 12 of RA No. 3591, as amended (PDIC Charter).

The PDIC took over the Bank and its assets, records and affairs on February 18, 2022.

The PDIC Charter provides in Section 13, that a bank placed under liquidation shall in no case be re-opened and permitted to resume banking business. Furthermore, Section 12 expressly provides that banks closed by the Monetary Board shall no longer be rehabilitated.

Be further informed that upon placement of the Bank under liquidation, the powers, functions and duties of the directors, officers and stockholders of the Bank are terminated. Accordingly, the directors, officers, and stockholders shall be barred from interfering in any way with the assets, records and affairs of the Bank. Therefore, anyone in possession of any asset and/or records of the closed Rural Bank of San Lorenzo Ruiz (Siniloan), Inc. is advised not to allow or honor any transaction affecting the same without the consent of the Receiver and to immediately turnover the said assets and/or records to the designated Deputy Receiver at the address provided below.

Moreover, all assets of the Bank are deemed to be in custodia legis in the hands of the Receiver and may not be subject to attachment, garnishment, execution, levy or any other court processes.

All inquiries, communications or transactions relating to or involving the Bank should be addressed to:

The Public Assistance Department (PAD)
Philippine Deposit Insurance Corporation

Mail/Courier at: PDIC Building, 2228 Chino Roces Avenue, Makati City

Hotline : (632) 8841-4141 (for depositors within Metro Manila, during office hours)

Toll Free : 1-800-1-888-7342 or 1-800-1-888-PDIC (for those outside Metro Manila, during office hours)

Email :

Facebook :

In view of the strict health protocols, visits to the PDIC will be on appointment basis only. Appointment schedule may be secured through telephone, email or Facebook private message with contact details as provided above.

Receivership and Liquidation Sector

February 18, 2022

PDIC is a government instrumentality created in
1963 by virtue of Republic Act 3591, as amended,
to insure the deposits of all banks. PDIC exists to
protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability
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