PDIC to process claims of Lapu bank depositors

Carlo S. Lorenciana (The Freeman) - March 28, 2016 - 10:00am

CEBU, Philippines - The Philippine Deposit Insurance Corp. said it will continue to receive and process deposit insurance claims from depositors of the closed Lapu-Lapu Rural Bank in Carcar City, Cebu.

PDIC says claims can be filed at its Makati City office or through mail.

The state deposit insurer disclosed in a statement that a total of P35.1 million in insured deposits covering 191 accounts was already paid during at its onsite claim settlement operations at the bank.

"Another P14 million was settled thru postal money orders sent via registered mail to 1,361 accounts of depositors with balances of P100,000 and below where filing of claims was waived by PDIC," it said.

As of February 18, PDIC has yet to receive deposit insurance claims for P1.7 million covering 313 accounts.

PDIC ended its servicing of insurance claims at the bank last February 19.  

Lapu-Lapu Rural Bank was ordered closed on January 28, 2016.

PDIC said the rural bank had P59.7 million in total estimated insured deposits involving 1,916 accounts.

Lapu-Lapu's closure is so far the first bank closure in Cebu this year.  (FREEMAN)

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