Rural Bank of Datu Paglas prohibited from doing business
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) prohibited Rural Bank of Datu Paglas from doing business in the Philippines through Resolution No. 1110.A dated Aug 26, 2021, which also directed the PDIC as Receiver to proceed with the takeover and liquidation of the bank.
The PDIC will pay all valid insured deposit claims. The PDIC assured depositors that all valid deposits and claims will be paid up to the maximum deposit insurance coverage of Php 500,000 per depositor.
Insurance payments for valid deposits with balances of Php 100,000 and below will be made through postal money order and targeted to be sent via mail starting October 21, 2021.
The requirements and procedures for filing deposit insurance claims will also be posted in the PDIC Website (www.pdic.gov.ph)
Borrowers are reminded to continue paying their loan obligations with the closed Rural Bank of Datu Paglas, Inc. and to transact only with designated PDIC representatives. The procedures for settlement of loan obligations are available in the PDIC website (www.pdic.gov.ph).
PDIC reminds borrowers of closed Rural Bank of Datu Paglas to pay their loans notwithstanding the closure of the bank. Borrowers may pay directly at any PNB branch, thru postal money order (PMO) or check, or personally at the PDIC, on appointment basis.
PDIC Public Assistance Hotline: (02) 8841-4141
PDIC Toll Free Hotline: 1-800-1-888-PDIC (7342) during business hours for those outside of Metro Manila.
The notice of closure was served to and accepted by the duly authorized representatives of the bank on August 27, 2021.
Rural Bank of Datu Paglas, Inc. is a single-unit rural bank located in Poblacion, Datu Paglas, Maguindanao.