PDIC to start paying Gulf Bank depositors

By April 6, 2014Business, News

DEPOSITORS of closed Gulf Bank (Rural Bank of Lingayen, Inc.), which has been placed under the receivership of the Philippine Deposit Insurance Corporation (PDIC) effective April 4, can start claiming their insurance by the third week of April.

The PDIC will conduct a Depositors-Borrowers Forums on April 9 and 10, 2014 to inform depositors of the requirements and procedures for filing deposit insurance claims and claim forms will also be distributed.   The schedule and venues of the forums will be posted on the bank premises and at the PDIC website, www.pdic.gov.ph.

Gulf Bank is a five-unit rural bank with head office located at No. 3 Avenida Rizal East St., Lingayen with branches in Alaminos, Dagupan City and Mangatarem in Pangasinan; and in Baguio City.

The bank is owned by Myrna C. Lopez (chairman and president), Vanessa L. Dapul, Margarita C. Lopez, Patricia C. Lopez-Torres, Joseph T. Li and Claro A. Calaguio.

Latest available records show that as of December 31, 2013, Gulf Bank’s total  insured deposits amount to P355.07 million or 97.44% of total deposits.

Depositors with valid deposit accounts with balances of P50,000.00 and below will receive payments by mail to their addresses based on bank records by the third week of this month.

PDIC will start claims settlement operations for depositors that are required to file deposit insurance claims by the fourth week of April.

For more information, depositors may contact the PDIC Public Assistance personnel stationed at the bank premises.  They may also call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342), the PDIC Public Assistance Hotlines at (02) 841-4630 to (02) 841-4631, or send an e-mail to pad@pdic.gov.ph.

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