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                    [ArticleID] => 264559
                    [Title] => PDIC to service First Savings depositors starting tomorrow
                    [Summary] => The Philippine Deposit Insurance Corp. (PDIC) will start servicing tomorrow claims from depositors of  First Savings Bank Inc.  


First Savings Bank was closed by the Bangko Sentral ng Pilipinas (BSP) last Wednesday when it failed to service its client base. It declared a bank holiday Monday afternoon then failed to reopen.


After a review, the BSP closed the bank and placed it under PDIC receivership when it was determine that its assets were insufficient to cover its liabilities.


                    [DatePublished] => 2004-09-13 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [1] => Array
                (
                    [ArticleID] => 264102
                    [Title] => PDIC takes over First Savings Bank
                    [Summary] => The Philippine Deposit Insurance Corp. (PDIC)  took over yesterday  First Savings Bank Inc., a small bank servicing mostly public market vendors and small depositors.


The Bangko Sentral ng Pilipinas (BSP), in its Resolution No. 1265, ordered the bank’s closure and placed it under PDIC receivership due to its inability to pay liabilities as they become due in the ordinary course of business, insufficient realizable assets to cover liabilities and  inability to continue its business without involving probable losses to its depositors or creditors.


                    [DatePublished] => 2004-09-09 00:00:00
                    [ColumnID] => 133272
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DEPOSITORS ASSISTANCE BUREAU

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                    [ArticleID] => 264559
                    [Title] => PDIC to service First Savings depositors starting tomorrow
                    [Summary] => The Philippine Deposit Insurance Corp. (PDIC) will start servicing tomorrow claims from depositors of  First Savings Bank Inc.  


First Savings Bank was closed by the Bangko Sentral ng Pilipinas (BSP) last Wednesday when it failed to service its client base. It declared a bank holiday Monday afternoon then failed to reopen.


After a review, the BSP closed the bank and placed it under PDIC receivership when it was determine that its assets were insufficient to cover its liabilities.


                    [DatePublished] => 2004-09-13 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 264102
                    [Title] => PDIC takes over First Savings Bank
                    [Summary] => The Philippine Deposit Insurance Corp. (PDIC)  took over yesterday  First Savings Bank Inc., a small bank servicing mostly public market vendors and small depositors.


The Bangko Sentral ng Pilipinas (BSP), in its Resolution No. 1265, ordered the bank’s closure and placed it under PDIC receivership due to its inability to pay liabilities as they become due in the ordinary course of business, insufficient realizable assets to cover liabilities and  inability to continue its business without involving probable losses to its depositors or creditors.


                    [DatePublished] => 2004-09-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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abtest

PDIC to service First Savings depositors starting tomorrow

By Ted P. Torres | September 13, 2004 - 12:00am

The Philippine Deposit Insurance Corp. (PDIC) will start servicing tomorrow claims from depositors of First Savings Bank Inc. First Savings Bank was closed by the Bangko Sentral ng Pilipinas (BSP) last Wednesday...

Business

PDIC takes over First Savings Bank

September 9, 2004 - 12:00am

The Philippine Deposit Insurance Corp. (PDIC) took over yesterday First Savings Bank Inc., a small bank servicing mostly public market vendors and small depositors. The Bangko Sentral ng Pilipinas (BSP), in its...

Business