MANILA, Philippines — The Philippine Deposit Insurance Corporation (PDIC) has officially turned over P259.4 million in cash assets to AMA Rural Bank of Mandaluyong, Inc. (AMA Bank), concluding a court-mandated process that began in 2020.

In a statement, the PDIC said the turnover was completed on March 12, 2025, marking the final step in its compliance with a series of orders issued by the Court of Appeals under CA-G.R. No. 163288. 

These include the Decision dated September 7, 2020, the Writ of Execution dated September 30, 2020, and the Alias Writ of Execution dated November 5, 2020.

The transfer of funds follows earlier turnover activities, during which the PDIC returned AMA Bank’s documents, records, branches, and other non-cash assets between June 16 and July 13, 2023.

“After a series of discussions, the PDIC and AMA Bank have amicably resolved all concerns related to the turnover of the Cash Assets of AMA Bank for the benefit of the Bank’s depositors and creditors,” the PDIC said.

With the resolution now complete, depositors, creditors, and borrowers of AMA Bank are advised to await further announcements from the bank and to direct all inquiries regarding deposit accounts, loans, and other banking concerns to AMA Bank.

The PDIC serves as the statutory receiver and liquidator of closed banks in the Philippines.