A message from AMA
To our Valued Depositors:
We are pleased to inform you that we have reached compromise agreements with the Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC), which were 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 returned by PDIC, we have begun releasing payments to deposit accounts with balances of P250,000 and below. As of today, 87% of our deposit liabilities under this bracket have been paid.
It has been almost four months from the execution of the compromise agreement with BSP, and we understand that our depositors with balances above P250,000 have been anxiously awaiting payment of their deposit accounts. The payments for this bracket will be sourced from the Bank’s receivables from the Department of Education (DepEd), amounting to P982 million as confirmed by DepEd to BSP, the release of which has been pending for more than three months. Per an update from DepEd, the Office of the Solicitor General recommended certain revisions to the draft Compromise Agreement between AMA Bank and DepEd, which proposed revisions were promptly accepted by AMA Bank. Final clearances for the release of the receivables from DepEd are now actively being secured from DepEd’s Office of the Secretary and Finance Department, according to DepEd’s Atty. Mark Josel Vivit.
AMA Bank assures our valued depositors that we shall secure the collection from DepEd the fastest way possible. We reiterate that the protection of your deposits remains our foremost priority. We remain steadfast in upholding transparency, sound financial management, and the trust you have placed in AMA Bank.
Please wait for further announcements on this matter.
AMA BANK MANAGEMENT
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