AMA Bank still closed, says PDIC

State-run Philippine Deposit Insurance Corp. reminded all depositors, creditors and borrowers of AMA Rural Bank of Mandaluyong Inc. that the bank remains closed and under PDIC liquidation. 

“While PDIC stopped its deposit insurance and liquidation operations due to the temporary restraining order issued by the Court of Appeals on Nov.r 25, 2019, PDIC shall resume its activities once the TRO expires on Jan. 25, 2020 and no writ of preliminary injunction has been issued,” it said. 

PDIC assured depositors that it would pay the insured deposits maintained in AMA Bank despite the challenges caused by the refusal of the Bank’s officers and employees to properly turn over bank records to PDIC. 

DPIC asked depositors, borrowers, creditors and other clients of AMA Bank to visit the agency’s website for updates.

Topics: AMA Rural Bank of Mandaluyong Inc. , Philippine Deposit Insurance Corp. , PDIC
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