PDIC starts paying depositors of closed Siam Bank

ABS-CBN News

Posted at Jan 09 2013 03:19 PM | Updated as of Jan 09 2013 11:19 PM

MANILA, Philippines - The Philippine Deposit Insurance Corp. on Wednesday started paying depositors of Mindanao-based Siam Bank which was closed last year.

The claims settlement will run until January 15 after which claims will have to be submitted through mail or personally to the PDIC office.

PDIC says it has already sent payments through mail to some 2,700 depositors who have account balances of P15,000 and below.

Details on claims settlement are posted on the bank's premises and on the PDIC website.