BAUKO, Mountain Province – Hundreds of
alarmed depositors of the Rural Bank of
Buguias branch here lined up to withdraw their savings after it was put
under receivership by the Philippine
Deposit Insurance Corporation by virtue of Bangko Sentral ng Pilipinas Resolution
1704 dated Oct. 22, 2015.
As news spread of the
receivership, depositors also flocked to Abatan, Buguias only to be met by the
same situation.
People said they were
surprised and panicked over their savings. They were later relieved when the PDIC
representative explained, these will be returned in due time when processes
will be completed.
PDIC scheduled a
depositors’ forum on Nov. 9 at 9 a.m. at the Bauko Municipal Gymnasium to
answer questions from the people.
The depositors
expressed hope that their money be returned the soonest possible time or on
time for the Christmas season and not
later than the election campaign period.
Many local politicians
deposited their campaign fund at the
said bank and now in quandary where to
get fund to augment their campaign operations.-- ArseniaAddon
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