ILOILO CITY — The Philippine Deposit Insurance Corporation (PDCI) assured depositors of the Bangko Buena Consolidated, Inc. (rural bank) that they have “nothing to worry” after it ceased operation effective July 27 upon the order of the Monetary Bank (MB) of the Bangko ng Sentral ng Pilipinas (BSP).
“Bangko Buena has been closed last Friday,” confirmed Joseph G. Villaret Jr., Vice-President, Corporate Affairs Group of the PDIC in a press conference on Wednesday.
Bangko Buena had its head office at #23 corner Valeria-Rizal Streets, Brgy. Nonoy, City Proper district, this city. It has branches in Bacolod, Negros Occidental; Barotac Nuevo and Lambunao,Iloilo; Culasi and Pandan, Antique; Dao, Capiz and Buenavista, Guimaras.
He said the MB, through Resolution No. 1194, dated July 26 has directed the PDIC to proceed with the take over and liquidation of the bank.
Villaret said as of March this year, the bank has 16,000 deposit accounts and PHP272 million in total deposit liabilities. The total deposits insured amounted to PHP245.9 million or equivalent to 90.5 percent of total deposits.
“Right now we have a team spread in all the branches of the bank looking at the records,” he added.
Villaret has advised all depositors to go to their depository bank and “update their deposit records, especially their names and address.”
“Please get in touch with PDIC employees in the branch; ensure that you talk to PDIC personnel. We are not charging for any information, take note,” he said.
He said that within the month, checks will be sent to depositors’ address based on bank records for deposits of less than PHP100,000 with no loan.
“They need not come to file to insured deposits,” he said.
Depositors with a deposit balance of more than PHP100,000 or those with loans will not be included in the automatic sending of check.
They are advised to wait for their notice of their schedule to go to the bank to process their claim.
“We are asking them to go to their branch and ask whether there is a meeting of depositors and borrowers,” he added. The depositors and borrowers forum is expected next week.
“We are processing all these and we are aiming to pay all the insured deposits within the month of August,” he said. (Perla Lena/PNA)
