by Hio Tiao “Bong” Lim, Contributor
Dabawenyo depositors of the Cagayan de Oro City-based rural bank have until October 23 to file their claims with the Davao City branch.
This developed as the Bangko Sentral ng Pilipinas placed the Philippine Farmer’s Bank under receivership last September 17. PFB’s closure followed the recent closures of rural banks in the Philippines particularly that of the Legacy Group.
The Philippine Deposit Insurance Corp. (PDIC) took over the farmer’s bank effective September 18.
Details of the financial troubles of the rural bank were not publicized though
The head office of The Philippine Farmers’ Bank is located at Cagayan de Oro. It has other branches in 13 other cities, namely, Dagupan, Cabanatuan, San Fernando (Pampanga), Naga, Lucena, Bacolod, Iloilo, Mandaue (Cebu), Ormoc (Leyte), Tacloban, Zambonga, Ozamis, and Davao
The branch in Davao City is located at the corner of Ramon Magsaysay Avenue and Guerrero Street.
The PDIC held a jampacked depositors’ forum last October 1, by depositors from all walks of life –mostly big and small businessmen and public and private school teachers.
The PDIC will entertain claims up to October 23, or until otherwise advised.
