Savings bank

PDIC urges creditors of shuttered Metro Cebu Public Savings Bank to file claims

ALL creditors of the closed Metro Cebu Public Savings Bank have until July 4, 2022 to file their claims against the assets of the closed bank, either by email, mail or personal deposit, the Philippine Deposit Insurance Corporation announced on Friday ( CIDP).

Creditors means any person or entity with a valid claim to the assets of the closed savings bank and includes depositors whose deposits exceed the Maximum Deposit Insurance Coverage (MSIC) of P500,000. The PDIC said that creditors can file their claims by one of the following means:

1. Online by email at;

2. By mail addressed to the PDIC Public Assistance Department, Ground Floor, PDIC Chino Bldg., 2228 Chino Roces Avenue, Makati City 1231. Claims filed by mail must be postmarked no later than July 4, 2022; or

3. Personal drop-off at the PDIC Public Assistance Center located at 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner VA Rufino St., Makati City, Monday through Friday, 8 a.m. to 5 p.m.

Appointments can be requested via the public assistance hotline at (02) 8841-4141 or toll free 1-800-1-888-7342 or 1-800-1-888-PDIC, by sending a request via email at metro –, or by sending a request via private message to the official PDIC Facebook page at

Claims filed after July 4, 2022 will be rejected. PDIC, as receiver, will notify creditors of denial of claims by mail. Claims denied or dismissed by the PDIC may be filed with the Liquidation Court within 60 days from receipt of the final notice of claim denial or within 20 days from the date of publication of the order fixing the request for assistance in the liquidation proceeding for the initial hearing, whichever is later.

“Furthermore, the PDIC has stated that depositors with account balances exceeding the MDIC of P500,000 who have already filed claims for the insured portion of their deposits as of July 4, 2022 are deemed to have filed their claims for the unsecured portion. insured or the amount above the MDIC,” the public insurer said.

PDIC, as the receiver of closed banks, needs the personal data of creditors in order to be able to process their claims and protects this data in accordance with the Data Protection Act 2012.

The Metro Cebu Public Savings Bank was closed by the Monetary Board (MB) of Bangko Sentral ng Pilipinas on March 31, 2022 and the PDIC, as appointed receiver, was instructed by the MB to effect the takeover and liquidation of the closed bank pursuant to Section 12(a) of Republic Act No. 3591, as amended.

It is a three-unit savings bank headquartered at 2/F Sia Bldg., N. Bacalso Ave., Brgy. Duljo (Pob.), Cebu City. Its branches are located in Lapu-lapu City, Cebu and Tabunok in Talisay, Cebu.(CSL with PR)

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