PDIC urges creditors of closed Rural Bank of Initao to file claims on or before July 17, ‘18

By NORA SORINO
Iligan City Bureau Chief .

Creditors of the now-closed Rural Bank of Initao in Misamis Oriental must file their claims against the bank’s assets on or before July 17, 2018.

In a text message sent to this paper by the Philippine Information Agency, Lanao del Norte, it urged all creditors of the Rural Bank of Initao, Inc. to file their claims against the assets of said bank on or before July 17, 2018.

Claims may be filed personally at the PDIC Assistance Center, 3rd floor SSS Building, 6782 Ayala Avenue, Makati City.

Or they may also be filed by mail addressed to the PDIC, Public Assistance Department.

Interested persons are enjoined to visit www.pdic.gov.ph for more information, the PIA added.

Rural Bank of Initao was ordered closed by the Bangko Sentral ng Pilipinas Monetary Board (MB) on April 30, 2018, through a resolution of the Philippine Deposit Insurance Corporation.

There were 1,476 depositors of the bank with a total deposit of P46.4 million.

Liabilities totaled P42.3 million which is 91.1% of the total deposits.

The BSP then said that it wants to boost the country’s banking system’s competitiveness, and among its moves on the matter is to “close problematic players.”