Davao Sur bank clients assured of help by PDIC | Inquirer News

Davao Sur bank clients assured of help by PDIC

/ 10:42 PM October 03, 2013

The Philippine Deposit Insurance Corp. (PDIC) gave assurances to depositors of the Rural Bank of Hagonoy in Davao del Sur that their claims would be processed.

In a statement, PDIC also clarified it is not the agency authorized to order the closure of banks but the Monetary Board.

According to the PDIC statement, the Rural Bank of Hagonoy has 1,114 accounts with total deposits of P28.4 million. At total of 1,112 accounts have balances of P500,000 or less that are fully covered by deposit insurance, PDIC said.


PDIC said it has conducted a forum for the bank’s clients last Sept. 21 to brief them about the requirements and procedures for filing deposit insurance claims.


Claim forms were also distributed during the forum, PDIC said. Claim forms and information on requirements and procedures for claims are also available at the PDIC website, www.pdic.gov.ph.

PDIC said it would start mailing payments by the second week of October to depositors who need not file deposit insurance claims.

By the third week of October, PDIC said it would start processing claims of depositors who need to file deposit insurance claims.

Depositors may get in touch with PDIC public assistance office at 1-800-1-888 or the PDIC’s public assistance hotlines 841-4630 to 841-4631 or send e-mail to [email protected].

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