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Home | Money Matters | PDIC starts mailing of outlays to closed Rural Bank of Maigo
The single-unit lender is located in Poblacion, Maigo, Lanao del Norte. (Photo was taken at RB Maigo Facebook accnt)

PDIC starts mailing of outlays to closed Rural Bank of Maigo

By Nora Sorino
Iligan City Bureau Chief .

Philippine Deposit Insurance Corporation had started mailing of payments to qualified depositors of Maigo Rural Bank.

Earlier, The Bangko Sentral ng Pilipinas (BSP) has ordered a Lanao del Norteural bank closed and placed under receivership, stateun PDIC.

The single-unit lender is located in Poblacion, Maigo, Lanao del Norte and was prohibited from doing business and its assets and affairs placed under control of the PDIC.

According to the Philippine Information Agency, Lanao Norte, this was started September last September 24 yet and this was sent through postal money order.

The PDIC took over Maigo Rural Bank on September 14 and a forum for depositors and borrowers was held September 24.

Bidding was also scheduled on September 27 at the Bangko Sentral ng Pilipinas in Cagayan de Oro City from 8:00 am to 5 pm.

It was learned that said bank is the 11th bank closed by PDIC this year.

As of June 30 this year, it had 2,150 account depositors with a total amount ofP73.25.

Total insured by the PDIC is P64.06 million or 87.4% of the deposits.

The PDIC also, according to PIA, had enjoined borrowers to pay their accounts even if the bank is already closed.

 

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TREND MAKER. Mindanao Gold Star Daily was established in 1989 to set ablaze a new meaning & flame to the local newspaper business. Throughout the years it continued its focus and interest in the rural areas & pioneered the growth of countryside journalism.

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