The Rural Bank of Valencia Inc. is officially closed by virtue of a resolution issued by the Monetary Board of the Bangko Sentral ng Plipinas dated November 17, 2011.

The resolution states that RBVI, located at Larena Street, Poblacion, Valencia has been placed under the receivership with the Philippine Deposit Insurance Corporation.

All inquiries from the depositors and stockholders will be handled by representatives from PDIC. The PDIC team was set to conduct a Depositors Forum, yesterday at the Valencia Municipal Gymnasium. The forum aimed at discussing the claims and the procedure of the claims which will all be handled by the PDIC.

Baldwin Sykimte of the PDIC said it is important for depositors to attend the forum.

The PDIC personnel will be at the RBVI until December 1 to accept and assists claims from depositors.

The Rural Bank of Valencia Inc. has more than 800 accounts with total deposits of P20.6 million.

Deposit claims will be processed immediately and may be released on January 2012, or during the first quarter.

He added that all deposits not exceeding the maximum deposit insurance of P500,000 will be fully paid by the PDIC. He assured the depositors that they will get their money in full, since it is insured by PDIC.*MA

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