The Philippine Deposit Insurance Corp. (PDIC) on Thursday filed before the Department of Justice (DOJ) a complaint for estafa against 88 depositors for allegedly defrauding the government by P9.73 million.
The Philippine Deposit Insurance Corp. is set to sell more acquired properties to boost resources and partly settle the liabilities of banks that failed and were placed under its receivership.
Philippine Deposit Insurance Corp. (PDIC) has about P60 billion worth of acquired physical assets and receivables that it intends to turn into cash within the next five years.
The Bangko Sentral ng Pilipinas has placed another financially troubled rural bank under receivership. The New Rural Bank of Tagkawayan Inc. (NRBTI) was ordered closed Friday by the Monetary Board of the central bank for failing to meet regulatory standards, said the Philippine Deposit Insurance Corp. (PDIC), which serves as the receiver of failed banks.
A former executive of the failed Legacy-owned banks was arrested and arraigned recently in what the Philippine Deposit Insurance Corp. (PDIC) considers a positive development in its long-drawn legal battle with the banking group.
The Philippine Deposit Insurance Corp. (PDIC) has assured depositors of LBC Development Bank, many of them families of overseas Filipino workers, they will get back their deposits which were mainly the remittances of their loved ones working abroad. In a statement, PDIC said all deposits covered by insurance and confirmed as valid shall be reimbursed [...]
LBC Development Bank, a unit of the LBC Group, has been placed under receivership of the Philippine Deposit Insurance Corp. (PDIC).
