THE PHILIPPINE Deposit Insurance Corp. (PDIC) should strengthen its receivership operations to ensure measures are in place for depositors in small and medium-sized banks.
“Although some banks are placed in PDIC receivership every year, the adversely affected depositors number in the thousands,” Manila Rep. Joel R. Chua said in a statement.
“Closed banks worsen the unbanked situation of the country, especially in the countryside where small entrepreneurs and depositors are the casualties,” he added.
There were 369 lenders under liquidation by the PDIC as of December 2023, according to Mr. Chua, with 328 having no fixed asset distribution plans.
“A separate PDIC list has 363 banks with approved terminal reports,” Mr. Chua said, citing PDIC data.
Mr. Chua said the PDIC has disbursed P281.5 million in deposit insurance of 7,482 accounts by three shuttered lenders last year. — Kenneth Christiane L. Basilio
