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March 05, 2024

PDIC advises borrowers of closed rural bank to pay obligations

The Philippine Deposit Insurance Corporation (PDIC) reminded borrowers of the closed Rural Bank of San Agustin (Isabela), Inc. that they are still required to settle their loans notwithstanding the closure of the bank.

On a release dated Jan.16, PDIC, the statutory receiver of the closed rural bank, emphasized that borrowers should transact only with authorized PDIC representatives and encouraged borrowers to settle their entire balance by availing the incentives under the enhanced PDIC Closed Bank Loan Incentive Program (CLIP).

The PDIC also presented various modes of payment, including paying directly at any Philippine National Bank (PNB) branch or at the PDIC Public Assistance Center, or through postal money order (PMO).

Rural Bank of San Agustin (Isabela), Inc. was ordered closed by virtue of Monetary Board Resolution No. 3.A dated January 5, 2023.