THE Bangko Sentral ng Pilipinas (BSP) has shut down the Cooperative Bank of Bohol (CBB), located at the CPG East Ave, Tagbilaran City sometime last week.
In Notice to the Public, BSP did not provide grounds or details of the closure.
“The Monetary Board of BSP prohibited the CBB from doing business in the Philippines and directed the Philippine Deposit Insurance Corporation (PDIC) as the designated Receiver to proceed with the takeover and liquidation of the bank in accordance with Section 12 (a) of Republic Act No.3591, as amended, (the PDIC charter).”
The notice said that PDIC took over the bank’s branches, assets, records and affairs on July 19, 2024.
“Depositors, borrowers and other clients/stakeholders of the bank will be informed accordingly of the requirements and procedure for filing claims for deposit insurance and claims against the assets of the closed bank and settlement of obligations in the PDIC website and official facebook account.”
The public is advised to address their inquiries, communications or transactions relative to the said bank to: The Public Assistance Department, Chino Bldg, 2228, Chino Roces Avenue, Makati City.
It also said that personal visit to the PDIC office is encouraged for request of appointment.
PDIC also took over closed Rural Bank of Cuyo (Palawan), Inc. recently.
The closed Rural Bank of Cuyo (Palawan), Inc. is similarly situated and PDIC urged clients “to file their claims against the bank’s assets on or before 30 August 2024.”
It added, claims may be filed either through e-mail at cuyorb-pad@pdic.gov.ph, by mail, or personally at the PDIC Public Assistance Center in Makati City. Claims filed after said date shall be disallowed. For more info, visit https://www.pdic.gov.ph/news-102799
PDIC is a government instrumentality created in 1963 by virtue of Republic Act 3591, as amended, to insure the deposits of all banks. PDIC exists to protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability. PDIC is an attached agency of the Bangko Sentral ng Pilipinas. (rvo)
