The Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Rural Bank of La Trinidad (Benguet), reminded borrowers of the bank to continue to pay their loans and transact only with authorized PDIC representatives.

In a statement, PDIC advised borrowers of the Rural Bank of La Trinidad to pay their loans and other obligations directly at any Philippine National Bank (PNB) Branch under account name, PDIC FAO BURL – RURAL BANK OF LA TRINIDAD with Reference Number 373-0949-00013 . The Receiver cautioned borrowers that it has discontinued the engagement of the bank’s collectors. PDIC has not engaged any person to collect the loans of the bank. To ensure proper recording of payments made by borrowers, it further advised borrowers to keep copies of the PNB Deposit/Payment Slips. The Receiver emphasized that only payments with validated PNB Deposit/Payment Slips shall be considered valid payments.

The Monetary Board (MB) placed the Rural Bank of La Trinidad under the receivership of the PDIC by virtue of MB Resolution No. 1351.B dated August 15, 2013. As Receiver, PDIC took over the bank on August 22, 2013. Upon takeover, all bank records are gathered, verified and validated.

Rural Bank of La Trinidad is a two-unit bank with Head Office located at Solis Bldg., JC 105, Km 5, Pico, La Trinidad, Benguet. Its lone branch is in Dagupan City, Pangasinan. According to the latest Bank Information Sheet (BIS) as of June 30, 2013 filed by the Rural Bank of La Trinidad with the PDIC, the bank is majority-owned by Ricardo C. Solis (27%), Humberto C. Solis (25%) and Marie C. Solis (15%). Its Chairman and President is Ricardo C. Solis.

Borrowers of the bank may also communicate with the PDIC – Loans Management Department I at (02) 841-4992 or 841-4760. Queries may also be sent through email at pad@pdic.gov.ph.