Here’s a list of closed banks in the Philippines 2021. The first bank to be closed down in 2021 is Occidental Mindoro Rural Bank Inc.
1. Occidental Mindoro Rural Bank Inc.
- Office address at OMRI Bldg., Quezon St.
Brgy. Bagong Sikat (Poblacion), Lubang, Occidental Mindoro
- Closed down by the BSP on March 25, 2021
- Taken over by the PDIC on March 29, 2021
2. Palm Tree Bank Inc. (A Rural Bank)
- Head office address at Door #5 Global Agro Building, Kolambog
Lapasan Highway, Cagayan de Oro City
- Had one branch: EC Tanghal Bldg. No. 5, Don Roman Vilo St.
- Closed down by the BSP on April 22, 2021
- Taken over by the PDIC on April 23, 2021
3. Rural Bank of Alimodian (Iloilo) Inc.
- Head office address at Almacen St.
Brgy. Poblacion, Alimodian, Iloilo
- Had one branch: Cabaluna St., Brgy. Poblacion, Leon, Iloilo
- Closed down by the BSP on May 6, 2021
- Taken over by the PDIC on May 12, 2021
4. Rural Bank of Caloocan Inc.
- Head office address at 55 A. Mabini St. corner Damayan St.
Maypajo, Caloocan City
- Had one branch: 571 A. Mabini St., Caloocan City
- Closed down by the BSP on June 24, 2021
- Taken over by the PDIC on June 25, 2021
Instructions and Contact information for depositors of newly closed banks:
The Public Assistance Department (PAD)
Philippine Deposit Insurance Corp. (PDIC)
6th Floor, SSS Building
6782 Ayala Avenue corner V.A. Rufino St
Makati City 1226
Hotline : (632) 8841-4141 (for depositors within Metro Manila, during office hours)
Toll Free : 1-800-1-888-7342 (for depositors outside Metro Manila, during office hours)
You can also check posters at the premises of the closed bank and other public places within the municipality on the schedule of distribution of PDIC claim forms, receiving of claim forms and the deadline for filing of claims.
If your total balance is 100,000 pesos or below, and you do not have an outstanding loan or obligation, and you did not sign as a co-maker of a loan with the closed bank, you are not required to file a deposit insurance claim. Just make sure your address in the bank’s files are correct, complete and updated.
You can update your address by submitting Mailing Address Update Forms (MAUF) ASAP, either through the dropbox available at the bank premises, or by sending a scanned copy of MAUF form and valid ID to the email address of the closed bank.
Your insurance payment will be mailed to you via postal money order. There’s a target date for mailing.
PDIC Special Power of Attorney Form, in case you need to be represented by your representativeclosed banks in the Philippines 2021
Cessation of Operations by Foreign Banks’ Representative Offices in the Philippines
Wells Fargo Bank NA – Manila Representative Office has ceased operations effective May 31, 2021. Reference: BSP Circular Letter CL-2021-045 dated June 10, 2021
Korea Development Bank – Representative Office in the Philippines has ceased operations effective December 31, 2020. Reference: BSP Circular Letter CL-2021-033 dated April 16, 2021