THE Monetary Board (MB) of the Bangko
Sentral ng Pilipinas (BSP) prohibited Rural Bank of Tibiao (Antique), Inc. from
doing business in the Philippines through MB Resolution No. 344.A dated Mar. 5,
2020 which also directed the Philippine Deposit Insurance Corporation (PDIC) as
Receiver to proceed with the takeover and liquidation of Rural Bank of Tibiao
(Antique), Inc. PDIC took over the bank on Mar. 6, 2020.
Rural Bank of Tibiao (Antique), Inc. is a single-unit rural bank located on Gov
A. T. Lim Avenue, Poblacion, Tibiao, Antique.
Latest available records show that as of Dec. 31, 2019, Rural Bank of Tibiao
(Antique), Inc. has 969 deposit accounts with total deposit liabilities of P30.35
million, of which 99.36 percent or P30.16 million are insured deposits.
PDIC assured depositors that all valid deposits and claims shall be paid up to
the maximum deposit insurance coverage of P500,000.00. Individual account
holders of valid deposits with balances of P100,000.00 and below do not need to
file deposit insurance claims, provided they have no outstanding obligations or
have not acted as co-makers of obligations with Rural Bank of Tibiao (Antique),
Inc. These individual depositors must ensure that they have complete and
updated addresses with the bank. PDIC representatives will be distributing
Mailing Address Update Forms at the bank premises and depositors may submit the
forms until Mar. 12, 2020.
For business entities and all other depositors who are required to file claims
for deposit insurance, the schedule for filing of claims will be announced
through posters in the bank premises and in other public places, the PDIC
website www.pdic.gov.ph,
and PDIC’s official Facebook account.
PDIC also reminded borrowers to continue paying their loan obligations with the
closed Rural Bank of Tibiao (Antique), Inc. and to transact only with
designated PDIC representatives at the bank premises.
For more information on the requirements
and procedures for filing of claims for deposit insurance and settlement of
loan obligations, all depositors and borrowers of the bank are enjoined to
attend the Depositors-Borrowers’ Forum on Mar. 18, 2020. Details will be
posted at the bank premises and in other public places.
Pursuant to Section 13 of R.A. 3591, as amended, PDIC shall likewise accept
Letters of Intent from interested banks and non-bank institutions for possible
Purchase of Assets and Assumption of Liabilities (P&A) as a mode of
liquidating Rural Bank of Tibiao (Antique), Inc. within sixty (60) days from
PDIC takeover subject to compliance with the requirements prescribed under the
Guidelines in Pre-qualifying Proponents and Evaluating the Proposals for
Purchase of Assets and Assumption of Liabilities Mode of Liquidating Closed
Banks posted in the PDIC website.
All stakeholders and interested parties may communicate with PDIC Public
Assistance personnel stationed at the bank premises or call the PDIC Public
Assistance Hotline during office hours at (02) 8841-4141 or the Toll Free
Hotline at 1-800-1-888-PDIC (7342) for those outside Metro Manila.
Inquiries may also be sent by e-mail to pad@pdic.gov.ph or via private message to the official
PDIC Facebook account at www.facebook.com/OfficialPDIC./PN
