MB padlocks rural bank in Ilocos Norte

The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) has closed the operations of the Community Rural Bank of Dingras (Ilocos Norte) Inc.

Under Resolution 1956.A dated Nov. 3, the MB directed the state-owned Philippine Deposit Insurance Corp. (PDIC) as re­ceiver to take over the operations of the bank and the subsequent liquidation of its assets. PDIC took over the bank last Nov. 4.

Community Rural Bank of Dingras is a three-unit rural bank with head office located at Medina St., cor. Puruganan St., Brgy. Madamba (Pob.), Dingras, Ilocos Norte.

The bank’s two branches are located in Batac and Paoay, both in Ilocos Norte. Based on the Bank Information Sheet filed by the bank with the PDIC as of June 30, 2016, Community Rural Bank of Dingras is owned by Teresita P. Villa (35.98 percent), Caridad U. Villa (18.28 percent), Jose S. Salasac (3.61 percent), Rolando Un­ciano (2.69 percent), Marino Unciano (2.41 percent), Evelyn G. Unciano (2.24 percent), Trinidad N. Nagum (2.12 percent), and Rene A. Hermano (2.09 percent).

Latest available records show that as of June 30, 2016, Com­munity Rural Bank of Dingras had 1,859 accounts with total de­posit liabilities of P75.6 million. Total insured deposits amounted to P74.5 million involving 98.5 percent of total deposit accounts.

PDIC assured depositors that all valid deposits and claims shall be paid up to the maximum deposit insurance coverage of P500,000.

The schedule of claims settlement operations will be an­nounced as soon as finalized. PDIC also reminded borrowers to continue paying their loan obligations with the closed Commu­nity Rural Bank of Dingras and to transact only with designated PDIC representatives at the bank premises.

Meanwhile, PDIC enjoined all depositors and borrowers to attend the Depositors-Borrowers’ Forum on Nov. 17, 2016 for information on requirements and procedures of filing claims and settlement of loan obligations.