PDIC - updates

Rappler's latest stories on PDIC


Shuttered AMA Bank refuses to turn over records – PDIC

Nov 15, 2019 - 5:41 PM

PDIC gives employees of AMA Bank of Mandaluyong 24 hours to turn over bank records or face the 'full force of law'

BSP shuts down Batangas-based Tiaong Rural Bank

Aug 03, 2018 - 8:26 PM

Tiaong Rural Bank, Inc. is the 6th problmatic bank to be shut down this year

10 gov’t firms fail to remit P68B in dividends – COA

Oct 31, 2016 - 7:09 PM

State auditors find that from 2004 to 2014 these GOCCs either did not declare failed to record failed to remit or under remitted their dividends

Fewer Philippine banks in 2015

Mar 28, 2016 - 8:29 PM

The central bank s order to close 14 rural banks in 2015 leads to the continuing decline of established banks in the country

FEWER BANKS. A 2015 law allowing foreigners to fully own Philippine banks helped ease the declining number of institutions in the country

BSP releases guidelines on rural bank mergers

Dec 16, 2015 - 5:58 PM

The program seeks to encourage consolidations and mergers among rural banks to bring about a less fragmented banking system

Senate passes bill protecting bank clients from closures

Dec 14, 2015 - 7:18 PM

Under the measure the Philippine Deposit Insurance Corporation would reinforce weak banks even before closure orders

BSP approves sweetened perks for rural bank mergers

Aug 22, 2015 - 12:13 PM

BSP says encouraging more mergers among rural banks will bring about a less fragmented banking system in the Philippines

SWEETENED PERKS. The program offers financial and regulatory perks to groups of rural banks serving similar areas to combine operations and create larger institutions

Ex-Banco Filipino officers slapped with criminal complaint

Jul 06, 2015 - 9:32 PM

20 former stockholders and officers of the bank are the subject of a criminal complaint filed with the justice department

epa02636101 Filipino depositors wait outside a branch of the Banco Filipino bank which has remained closed with stalled operations in Quezon City, east of Manila, Philippines, 16 March 2011. EPA/ROLEX DELA PENA

PDIC to hold sealed bidding for 126 properties

Jun 28, 2015 - 9:20 PM

The bidding will be held on June 30 and will benefit uninsured depositors and creditors of closed banks

BSP warns versus unauthorized deposit-taking activities

Apr 07, 2015 - 4:42 PM

The central bank says only banks are allowed to accept deposits from the public

PDIC files raps vs Exportbank officers

May 10, 2013 - 3:58 PM

The state deposit insurer files a criminal complaint against the former chairman and 5 other officers of the troubled Export and Industry Bank

FAILED BIDDING. The PDIC receives no bids for Exportbank. Photo from PDIC website.

PDIC to liquidate failed Exportbank

Apr 16, 2013 - 4:29 PM

The move comes after the state run insurer failed to get investors to rehabilitate the bank

FAILED BIDDING. The PDIC receives no bids for Exportbank. Photo from PDIC website.

Exportbank bidding fails

Mar 19, 2013 - 5:39 PM

No party submitted a letter of interest to bid for the bank s assets and liabilities

FAILED BIDDING. The PDIC said it received no lotter of interest for ExportBank. Photo from PDIC website.

Road to Exportbank rehab 'getting more difficult'

Jan 10, 2013 - 9:10 PM

State deposit insurer PDIC said the rehabilitation efforts for the now closed Export and Industry Bank Exportbank are facing serious hurdles due to difficulty in obtaining the consent of some depositors and creditors

CA flip-flops: Banco Filipino stays closed

Nov 25, 2012 - 11:45 PM

Thrift bank Banco Filipino was closed down in March 2011 by the central bank but that order was blocked by the appellate court in January 2012 The court reverses its decision in a recent ruling however

CLOSED DOWN. Banco Filipino was closed down in March 2011. Photo from WikiMedia Commons

PDIC: Anyone wants Exportbank aside from BDO?

May 24, 2012 - 5:26 PM

The state insurer is inviting other banks interested to rehabilitate Export Industry Bank to submit their proposals