PDIC sets claims deadline for closed bank in Medellin
CEBU, Philippines — The Philippine Deposit Insurance Corporation (PDIC) has announced that all creditors of the recently closed Community Rural Bank of Medellin (Cebu), Inc. must submit their claims against the bank’s assets by February 3, 2025.
Claims can be filed via email, postal mail, or through personal filing.
Creditors include any individual or entity with valid claims against the bank’s assets. This includes depositors whose account balances exceed the Maximum Deposit Insurance Coverage (MDIC) of P500,000.
For personal filing, creditors may visit the PDIC Public Assistance Center (PAC), at the ground floor of the PDIC Chino Building, 2228 Chino Roces Avenue, Makati City.
The PAC is open Monday to Friday, from 8:00 AM to 5:00 PM. Appointments are encouraged and can be scheduled by calling the PDIC hotline at (02) 8841-4141, the toll-free number 1-800-1-888-7342.
PDIC reminded that claims submitted after February 3, 2025, will be disallowed. PDIC will notify creditors of any denied or disallowed claims via mail.
Creditors whose claims are denied can file with the liquidation court within 60 days of receiving the final notice or 20 days from the publication of the initial hearing order, whichever comes later.
Depositors with balances exceeding P500,000 who have already filed claims for the insured portion of their deposits by the deadline will automatically have their claims for the uninsured portion processed.
The Community Rural Bank of Medellin was ordered closed by the Monetary Board on November 14, 2024, under Resolution No. 1287. The bank operated as a single-unit rural bank located on Jose Rizal St., Brgy. Poblacion, Medellin, Cebu.
PDIC assures all creditors that personal data provided during the claim process will be protected in compliance with the Data Privacy Act of 2012.
The PDIC has outlined three methods for filing claims—email to [email protected]., or mail address claims to the PDIC Public Assistance Department, Ground Floor, PDIC Chino Building, 2228 Chino Roces Avenue, Makati City 1231.
Claims submitted by mail must have a postmark dated no later than February 3, 2025.
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