ILOILO CITY May 13 (PIA) - -The Philippine Deposit Insurance Corporation (PDIC) took over the Rural Bank of Alimodian (Iloilo) Inc. on Wednesday, May 12, 2021.
This, after the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), in Resolution No. 539.A dated May 6, 2021, prohibited the bank from doing business in the Philippines and directed PDIC, as Receiver, to proceed with the takeover and liquidation of the bank.
For the safety of the bank clients and local residents, the PDIC field personnel complied with the health, quarantine and travel protocols in accordance with Resolution No. 98-A issued by the Inter-Agency Task Force for the Emerging Infectious Disease (IATF), according to a PDIC press report also issued on May 12.