PDIC tells depositors of closed banks to file claims

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The Philippine Deposit Insurance Corp. (PDIC) said on Monday depositors of three closed banks placed under receivership must file their deposit insurance claims before the expiry periods.

“In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Asian Consumers Bank is on June 27, 2016; July 22, 2016 for Rural Bank of Oroquieta; and August 1, 2016 for Banco Carmona,” PDIC said in a statement.

PDIC said it has concluded the onsite claims settlement operations for the three the closed Asian Consumers Bank, Rural Bank of Oroquieta (Misamis Occidental), and Banco Carmona more than six months ago.

The three banks were ordered closed by the Monetary Board and placed under PDIC receivership during the second and third quarters of 2014.


Under the PDIC Charter, depositors have two years from closure of the bank to file their claims either through mail or personally during business hours at the PDIC Claims Counter, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City.

After the expiry period, depositors may file their claims against the closed banks through PDIC as liquidator.

Payment of claims will depend on the sufficiency of the assets of the closed banks and shall be subject to the approval of the Liquidation Court, the PDIC said.

The state-deposit insurer said it had paid an aggregate of P200 million in deposit insurance claims to depositors of the three closed banks involving a total of 6,792 accounts as of January 31, 2015.

But an estimated deposit insurance claims collectively amounting to P16.4 million for 3,125 accounts have not been filed by depositors of the three closed banks.

PDIC advised depositors to meet general requirements for filing deposit insurance claims, including an accomplished claim form, original evidence of deposit and two photographs with signature of the depositor.

Depositors may also file their claims through mail and enclose the same set of required documents. The PDIC said it would not accept incomplete claims.

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