Ama Bank is pleased to inform you that they have reached compromise agreements with the Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC), which they're signed on June 23, 2025 and March 14, 2025, respectively, resolving the legal issues from our closure in November 2019. These agreements have made possible the payment of our deposit liabilities.
From the P259 million that PDIC returned, we have begun paying deposits to accounts with balances of P250,000 or less. As of right present, 87% of our deposit liabilities under this bracket have been settled.
We are aware that for approximately four months after the compromise deal with the BSP was put into effect, our depositors who have balances over P250,000 have been impatiently expecting payment of their deposit accounts. According to DepEd's confirmation to BSP, payments for this group will come from the Bank's Department of Education (DepEd) receivables, which total P982 million and whose delivery has been delayed for more than three months. The Office of the Solicitor General recommended several modifications to the proposed Compromise Agreement between AMA Bank and DepEd, according a DepEd update. The proposed modifications were promptly accepted by AMA Bank. Final clearances for the discharge of DepEd's receivables are currently being vigorously sought from the Office of the Secretary and the Finance Department, according to DepEd's attorney. Mark Josel Vivit.
AMA Bank promises its valued depositors that we will get the collection from DepEd as quickly as possible. We reiterate that protecting your savings is our top priority. We are dedicated to upholding transparency, responsible financial management, and your confidence in AMA Bank.
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