Borrowers told to pay loan obligations despite closure of lender bank in Lanao

MALABANG, Lanao del Sur: Borrowers of the shuttered Bagong Bangko Rural ng Malabang (Lanao del Sur) Inc. are advised to pay their loan obligations notwithstanding the closure of the bank, the Philippine Deposit Insurance Corp. (PDIC) said in an advisory circulated in this town on Friday.

The PDIC advised borrowers to transact only with authorized PDIC representatives and to always secure copies of official receipts issued by the corporation.

In a statement, it said the borrowers had three options to pay:

1. Direct payment at any branch of the Philippine National Bank (PNB). Payment should be for the account name, PDIC BURL FAO Bagong Bangko Rural ng Malabang (Lanao del Sur) Inc.

Borrowers are advised to indicate their Account Reference No., which they can secure from the PDIC Public Assistance Department, and the Payor’s Name on the PNB payment slips and keep copies of the same to ensure proper recording of their payments;

2. Through Postal Money Order (PMO) or check payable to “PDIC BURL-Bagong Bangko Rural ng Malabang (Lanao del Sur) Inc.”

Payment should be directly sent via mail to the PDIC Public Assistance Department at the 6th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino Street, Makati City; or

3. Direct payment at the PDIC Public Assistance Center located at the 3/F, SSS Bldg., 6782 Ayala Avenue cor. V.A. Rufino Street, Makati City.

The bank was closed on January 25 after the Monetary Board (MB) of the Bangko Sentral ng Pilipinas prohibited the Bagong Bangko Rural ng Malabang (Lanao del Sur) Inc. from doing business in the Philippines.

Under Resolution 159 dated Jan. 24, 2019, the MB directed the PDIC as receiver to proceed with the takeover and liquidation of the bank.

The Notice of Closure was served on Jan. 25, 2019.

The PDIC assured depositors that all valid insured deposit claims would be paid up to the maximum deposit insurance coverage of P500,000.00 through the designated servicing branches of the Land Bank of the Philippines.

When filing claims, depositors are advised to prepare the duly accomplished Claim Form, which can be secured from the Mayor’s Office in Malabang, Lanao del Sur; original evidence of deposit such as Savings Passbook, Certificate of Time Deposit, used or unused checks, bank statement or ATM card; and photocopy of one valid photo-bearing ID card containing the signature of the depositor.