Published : Monday, September 12, 2011 00:00 Article Views : 175 Written
by : LAILANY P. GOMEZ
THE policy-making Monetary Board has placed LBC Development Bank under
the receivership of the Philippine Deposit Insurance Corp. (PDIC).
By virtue of MB Resolution 1354, state-run PDIC took over the bank on
September 9, 2011. PDIC shall gather, verify and validate all bank
records and administer and preserve LBC Bank's assets for the benefit of
all creditors.
PDIC assured depositors of LBC Bank that all valid accounts and deposit
insurance claims will be paid as soon as possible. The state deposit
insurer also said that updates will be issued as soon as examination and
validation of accounts are completed.
PDIC will conduct a series of depositors' forums in the localities where
branches of LBC Bank are located. The schedules of these forums will be
announced as soon as possible in the bank premises and in the PDIC
website, www.pdic.gov.ph. During the forums, PDIC representatives will
explain the requirements and procedures in filing deposit insurance claims.
The state deposit insurer also advised the depositors to await
announcements on the schedules of the forums.
LBC Bank is a 20-unit thrift bank, with head office in Poblacion, Makati
City.
It has 19 branches nationwide.
Data from the Bangko Sentral ng Pilipinas showed that as of June 30,
2011, LBC Bank had estimated total deposit liabilities of P6.09 billion,
comprising one tenth of one percent of the total deposits of the
Philippine banking system.
Insured deposits amounted to P3.73 billion.
Total number of accounts reached 321,516, of which 99.4 percent were
fully covered by deposit insurance.
Announcements on the schedule of claims servicing operations will be
posted on www.pdic.gov.ph and in the bank premises, the PDIC said.
--
---------------------------------------------
CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
Landline Phones: +63495010127 and +63495762924
Cellphone: +639152919580
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
CONSULTING - http://www.carlosani.com
My News Clippings - http://www.myclipps.posterous.com
Family website: http://www.anifamily.net
------------------------------------------
