In a statement, the state-run deposit insurer said this amount accounts for 94 percent of the total estimated insured deposits in those banks across 7,482 deposit accounts.
The banks placed under PDIC liquidation were Rural Bank of Cuyo (Palawan) Inc., Cooperative Bank of Bohol, and Community Rural Bank of Medellin (Cebu) Inc. PDIC ensured that the bulk of the insured deposits were promptly settled within its prescribed turnaround time.
A significant portion of the payouts — P126.8 million or 45 percent of total payments — was made to 6,738 depositors eligible for outright settlement under the P500,000 threshold.
These payments were processed within 10 to 18 working days without the need for depositors to file claims. The waiver of claim filing, which applies to individual and business depositors meeting certain criteria, is part of PDIC’s efforts to enhance efficiency and convenience.
Meanwhile, P154.7 million in claims required formal filing, covering 744 accounts or 10 percent of the total settled accounts. The PDIC processed these claims within 18 to 27 working days.
The deposit insurance payouts were funded through the Deposit Insurance Fund, which stood at P236.95 billion at the end of 2024. This fund serves as the primary source for compensating insured depositors of failed banks.
Under the PDIC Charter (Republic Act No. 3591, as amended), depositors of closed banks have two years from the date of the agency’s takeover to file their claims. PDIC continues to accept claims via e-mail, postal mail, courier, and in-person submissions at its Public Assistance Center in Makati City.
Depositors seeking assistance may contact the PDIC Public Assistance Hotline at (02) 8841-4141 or the toll-free number 1-800-1-888-PDIC (7342) for those outside Metro Manila. The agency also accommodates inquiries through email and its official Facebook page.
For more details, visit www.pdic.gov.ph.
