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BULLETIN NO. 2023-03


Please be informed that, pursuant to Section 30 of Republic Act (RA) No. 7653 (New Central Bank Act), the Monetary Board, in Resolution No. 170.A dated February 9, 2023, prohibited RURAL BANK OF SAN MARCELINO, INC. (“Bank”) with office address at #21 Agpalo St., Central, San Marcelino, Zambales, 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 10, 2023.

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 Marcelino, 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 1231

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 :

For visits to the PDIC PAC, clients are highly encouraged to request for an appointment, observe health protocols and present their vaccination cards. Appointment schedule may be secured through telephone, email or Facebook private message with contact details as provided above.

Receivership and Liquidation Sector

February 10, 2023


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. PDIC is an attached agency of the Bangko Sentral ng Pilipinas.
Questions? Need Help? Click Frequently Asked Questions Trunkline.: (632) 8841-4000
Hotline: (632) 8841-4141
(for Metro Manila clients)
Fax No.: (632) 8841-4085
Client outside Metro Manila may call
Toll Free: 1-800-1-888-7342 or