PDIC takes over four branches of CRBA banks
Kalibo, Aklan -- Many Aklanons were surprised Wednesday afternoon when personnel from the Philippine Deposit Insurance Corporation (PDIC) simultaneously took over the four branches of the Cooperative Rural Bank of Aklan (CRBA).
Ferdinand Bilowano, the PDIC team leader, said that they stormed the four rural banks at around 3:30 pm, Wednesday after the insurance corporation released the Monetary Board resolution number 105 dated January 30.
The PDIC has sent personnel to the CRBA branches in Kalibo, Ibajay, Caticlan and Altavas in order to implement the simultaneous take over of the cooperative rural bank.
"The personnel's role is to oversee the operation of the respective branches of the CRBA and to answer all the queries of depositors who are expected to troop to the bank after they receive news of the take over," Bilowano said.
Other depositors, however, frowned to the PDIC take over wondering why the expected arrival of the PDIC has been delayed since last year.
"As soon as we have conducted the inventory of the assets of the CRBA, we will start paying the depositors to as much as P250,000 of their deposits. The other remaining balance (more than P250,000 deposits) will be paid after the assets of the CRBA have been all liquidated," Bilowano said.
During media interviews, CRBA personnel refused to comment on the take over and instead listened to the pronouncements of the PDIC personnel.
Last year, the National Bureau of Investigation probed the operation of the said bank and filed malversation of fund charges against several executives of the bank. The cases are still now ongoing in the court.
In 2000, the Cooperative Development Authority considered the CRBA as one of the most successful cooperative rural bank in the country. (PNA)