Depositors of closed bank may get paid this month

By: Vanessa Claire Lucero February 03,2016 - 12:00 AM

State-owned Philippine Deposit Insurance Corp. (PDIC) will start servicing the claims of depositors of the recently closed Lapu-Lapu Rural Bank, Inc. in the third week of this month.

PDIC public information officer Nathanael A. Tumbokon said the bank had 1,909 depositors, majority of whom reside in Carcar City in southern Cebu.

Total deposit liabilities amounted to P67.6 million. Insured deposits amounted to P60.7 million, or around 90 percent of total deposits.

PDIC took over the bank on January 29, a day after the Monetary Board (MB) issued a resolution prohibiting the bank from doing business.

Hazel Arante, information officer of Banko Sentral ng Pilipinas (BSP), said a meeting with depositors and borrowers has been set for February 12.

“All depositors of the bank are encouraged to attend,” she said.  She added that any inquiries pertaining to the bank will be forwarded by the BSP to PDIC.

Tumbokon of PDIC said depositors may still update their mailing addresses with the bank until February 10, as payments will be made through mail. Representatives of PDIC will be present at the bank to distribute the update forms.

Tumbokon said the maximum deposit insurance coverage is P500,000 for all valid deposits.

For individual depositors with balances of P100,000 or less, they do not need to file deposit insurance claims.

The bank, based in Poblacion, Carcar City, is majority owned by Matias Aznar III, who holds 42.67 percent equity.

The rest of the shares are distributed among Pilar Marfori (5.96 percent), Herminia Rosales (5.93 percent), Martha Lotilla (4.47 percent), Evelyn Miralles (4.47 percent), Douglas Sanson (4.47 percent), Gregorio Marfori (4.44 percent), Teodoro Cui, Jr. (4.31 percent), Eleonor Aznar (3.98 percent), and Dario Cui (3.54 percent).
Ramon Cayo Sanson Marfori is the president while Jundeline Marie Sumanga sits as its chairman.

Tumbokon said depositors with queries can go directly to the bank in Carcar, where several PDIC representatives are stationed, or call any of the PDIC hotlines at 1-800-1-888-7342/ 841-4630/ 841-4631. They can also email the agency through [email protected]

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TAGS: Cebu, depositors, Lapu-Lapu Rural Bank Inc., PDIC, Philippine Deposit Insurance Corp.

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