Philippine Banks Closed Down in 2020

The year 2020 has passed… and there had been only 5 Philippine banks closed down by the BSP.  This is good news, considering that there had been many banks closed down in past years.

In 2019, there were 11 banks that failed, mostly rural banks.

2020 Bank Closures:

1.  Providence Rural Bank, Inc.
– Office address at National Highway cor. Aglipay St.
Brgy. Bulala, Camalaniugan, Cagayan, Cagayan Valley
– Closed down by the BSP on February 27, 2020
– Taken over by the PDIC on February 28, 2020

2.  Rural Bank of Tibiao (Antique), Inc.
– Office address at Gov. A.T. Lim Avenue
Brgy. Poblacion, Tibiao, Antique,
– Closed down by the BSP on February 27, 2020
– Taken over by the PDIC on February 28, 2020

3.  De La O Rural Bank Inc.
– Office address at #010 San Jose St.
Brgy. San Jose (Pob), Pangil, Laguna
– Closed down by the BSP on September 10, 2020
– Taken over by the PDIC on September 11, 2020

4.  San Fernando Rural Bank, Inc. Doing Business as Safer Bank, A Rural Bank
– Office address at Ground Floor Safer Bank Bldg.
A. Consunji St., Brgy. Sto. Rosario (Pob)
City of San Fernando, Pampanga
– Had one lite branch unit (BLU) located at CGM Bldg.
MacArthur Highway, Brgy. Sindalan, City of San Fernando, Pampanga
– Closed down by the BSP on November 26, 2020
– Taken over by the PDIC on November 26, 2020

5.  Cooperative Bank of Aurora
– Office address at Avenida St. cor. Aurora St.
Barangay I (Pob.), San Luis, Aurora
– Closed down by the BSP on December 3, 2020
– Taken over by the PDIC on December 9, 2020

See Lists of Failed Banks in the Philippines from 2000 to 2020

How to File Your Deposit Insurance Claim with the PDIC

If you’re a depositor of any of these failed rural banks, file your claim as soon as possible. But if you’re not able to file immediately, make sure to file within 2 years from date of PDIC’s takeover of your failed rural bank.

Documents to file:
1) Accomplished, signed and notarized Claim Form
2) Original savings passbook and/or certificate of time deposit
3) Photocopy of 1 valid photo-bearing ID with depositor’s signature

You can file in person, but on appointment basis only. Set an appointment through telephone, email or Facebook private message.

Public Assistance Center
Philippine Deposit Insurance Corp.
3rd Floor SSS Building, 6782 Ayala Avenue corner
V.A. Rufino St., Makati City

You can also file via postal mail or courier service:
Philippine Deposit Insurance Corp.
Attention: Public Assistance Department
6th Floor SSS Building, 6782 Ayala Avenue
corner V.A. Rufino St.
Makati City 1226

You can download the Claim Form from the PDIC website. It’s FREE.
http://www.pdic.gov.ph/files/New_PDIC_Claim_Form.pdf

There is NO FEE for filing your deposit insurance claim. It’s FREE.

The PDIC might ask for additional documents during evaluation and processing.

For inquiries:
Hotline : (632) 8841-4141 (for depositors within Metro Manila, during office hours)
Toll Free : 1-800-888-7342 (accessible thru landline and Sun/Smart Mobile for depositors outside Metro Manila, during office hours)
Email : cbaurora-pad@pdic.gov.ph
Facebook : www.facebook.com/OfficialPDIC

The Public Assistance Department (PAD)
Philippine Deposit Insurance Corp
6th Floor, SSS Building
6782 Ayala Avenue corner V.A. Rufino Street
Makati City 1226

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