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PDIC starts processing claims of closed Binmaley rural bank

BINMALEY, Pangasinan -- The Philippine Deposit Insurance Corp (PDIC) announced that it started servicing claims for insured deposits in the closed People Rural Bank of Binmaley (Pangasinan), Inc. on April 25 a week after takeover. People’s RB BInmaley was taken over by PDIC on April 18.

PDIC advised depositors to proceed directly to the head office or particular bank branch they maintained their deposit accounts and present to PDIC representatives their original evidence of deposits such as savings passbook or certificates of time deposit; and two valid identification documents like IDs with depositor’signature.

PDIC will entertain claims during office hours, Monday to Friday, except holidays. Servicing of claims in the bank’s head office located here at Plaza Rizal, Poblacion and its branches in Lingayen, San Carlos City, and Baguio City will be conducted until May 15.

Claims will be processed in Dagupan City and Urdaneta City branches until May 8 but it would be until May 9 in San Jose del Monte, La Pinas and Taguig branches.

Latest available records showed as of Dec. 31, 2007, People’s RB of Binmaley had estimated total deposits liabilities amounting to P311.68 million.

The monetary Board ordered the closure of the bank on April 17 by virtue of MB Resolution No. 448.

Depositors of People’s RB of Binmaley are given two years from bank takeover to file their claims or until April 19, 2010 only.

The maximum deposit insurance coverage is P250, 000.