MANILA, Philippines – The state-owned Philippine Deposit Insurance Corp.
said it would shell out P10.7 billion to settle the valid deposit claims
filed by clients of the defunct rural banks under the controversial
Legacy group.
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PDIC president Jose Nograles said his office was committed to settling
all the valid deposit claims, noting it had sufficient funds to do so.
The deposit [...]
State-run Philippine Deposit Insurance Corp. (PDIC) has paid almost 63.27 percent of the P2.26-billion approved claims to Legacy Bank amid missing bank records and alleged fraud cases, president Jose C. Nograles said.
However, some 19,070 claims amounting to P2.55 billion were put on hold due to further verification although Nograles assured all valid claims would be [...]
Pdic wants failed banks barred from biddings
By Michelle Remo
Philippine Daily Inquirer
First Posted 19:30:00 08/30/2009
Filed Under: Banking
philippine deposit insurance Corp. wants owners of a failed bank barred from participating in biddings aimed at selling the closed financial institution.
The deposit insurer is also proposing that it be allowed to sell a bank placed under receivership even without [...]
PDIC, BSP to put up P2.5B incentive fund
By Michelle Remo
Philippine Daily Inquirer
First Posted 23:58:00 08/31/2009
MANILA, Philippines – The Bangko Sentral ng Pilipinas and Philippine Deposit Insurance Corp. have agreed to contribute P2.5 billion each to establish a proposed fund that will be tapped to extend incentives to banks willing to acquire financially troubled rural [...]
Regulators ready P5-B incentive program to push bank mergers
BANKING regulators are coming up with P5 billion in incentives to
encourage rural banks to merge and thereby create stronger and more
viable institutions.
In a statement, the Philippine Deposit Insurance Corp. (PDIC) said it is
establishing a P5-billion fund together with the Bangko Sentral ng
Pilipinas (BSP), of which the state [...]
By Michelle Remo
Philippine Daily Inquirer
Posted date: August 15, 2009
THE INSURANCE FUND FOR THE COUNtry’s deposit insurer is not likely to
grow this year because of the string of closures of rural banks over the
past months that involve billions of peso worth of claims.
The deposit insurance fund (DIF)—which grew to P60.5 billion last year
from P53.4 billion in [...]
PDIC teaches judges, courts
Updated July 14, 2009 12:00 AM
MANILA, Philippines – The Philippine Deposit Insurance Corp. (PDIC) and Philippine Judicial Academy (PhilJA) has entered into a landmark partnership to conduct a comprehensive deposit insurance seminar to judges and court personnel, to formalize their shared vision of enhancing the appreciation and understanding of deposit insurance and [...]
http://www.pdic.gov.ph/index.php?nid1=8&nid2=1&nid=362&rend=5&page=1
MANILA, Philippines – State-run Philippine Deposit Insurance Corp. (PDIC) turned down some claims amounting to P87.5 million coming from 523 accounts in four beleaguered Legacy banks, president Jose C. Nograles said in a statement.
Concerned depositors were notified through mail as these claims maintained in Rural Bank of Paranaque, Pilipino Rural Bank, Rural Bank of DARBCI [...]
The Philippine Deposit Insurance Corp. (PDIC) has collaborated with the Bangko Sentral ng Pilipinas (BSP) and key players of the local banking industry for its campaign on safe and responsible banking.
PDIC, BSP, the Bankers’ Association of the Philippines, the Chamber of Thrift Banks, the Rural Bankers’ Association of the Philippines, and the Bank Marketing Association [...]