PDIC pays PHP 106.9 million claims in 2025

The Philippine Deposit Insurance Corp. (PDIC) said it promptly paid PHP 106.9 million in deposit insurance claims in 2025, providing relief to depositors of two banks ordered closed by the BSP Monetary Board during the year.

PDIC said the payouts covered 3,736 claims across 3,111 deposit accounts from Emerald Rural Bank Inc. in Bulacan and Oriental Tamaraw Rural Bank of Naujan Inc. in Oriental Mindoro.

The state deposit insurer said payments went to depositors who filed claims and to those eligible for outright payment under PDIC’s waiver policy for deposit insurance claims filing.

Under the waiver policy, PDIC said individual depositors who are not borrowers, spouses of borrowers, or co-makers of the closed banks may qualify for outright payment.

PDIC said registered businesses or organizations may also qualify for outright payment under the same policy.

PDIC said the waiver applies to deposit accounts with outstanding balances of up to PHP 500,000, provided depositors have complete and updated registered mailing addresses in bank records.

Eligible depositors received payments through Philippine Postal Corp. postal money orders (PMOs) or Visa debit cards issued by Land Bank of the Philippines, PDIC said.

PDIC said PMOs and debit card payment notices were sent via registered mail to depositors’ recorded addresses, allowing them to receive funds without visiting claims settlement sites or submitting documents.

The bulk of payments—3,433 claims, or 92 percent of total deposit accounts—were settled through outright payment, PDIC reported.

PDIC said those outright payments totaled PHP 44.4 million, or 42 percent of the total amount paid, and were completed within 10–13 working days from its takeover of the two banks.

The agency said this was one day faster than its target turnaround time of 14 working days.

For depositors required to file claims, PDIC said it settled 303 claims totaling PHP 62.5 million, representing 58 percent of total claims paid for the year.

PDIC said those filed claims were settled within 15–20 working days upon receipt of complete claims, faster than the prescribed turnaround time of 21 working days.

PDIC reminded depositors of Emerald Rural Bank Inc. and Oriental Tamaraw Rural Bank of Naujan Inc. who have yet to file claims that they have up to two years from the date of PDIC’s takeover of the banks to do so, in accordance with the PDIC Charter.

PDIC said claims may be submitted via email, postal mail, courier service, or in person at the PDIC Public Assistance Center.

The corporation said it took over Emerald Rural Bank Inc. on Jan. 24, 2025, and Oriental Tamaraw Rural Bank of Naujan Inc. on May 13, 2025.

For inquiries, PDIC said depositors in Metro Manila may call the PDIC Public Assistance Hotline during office hours at (02) 8841-4141.

PDIC said claimants outside Metro Manila may call its toll-free hotlines 1-800-1-888-PDIC or 1-800-1-888-7342, also during office hours.

Inquiries may also be sent through email at pad@pdic.gov.ph or via private message to PDIC’s official Facebook page, the agency said.

PDIC said it was established on June 22, 1963 through Republic Act 3591 to protect depositors and help maintain stability in the financial system.