MANILA – After more than six years of legal battles, depositors of the closed AMA Rural Bank of Mandaluyong Inc. can finally expect payouts following a compromise agreement between the bank and the Bangko Sentral ng Pilipinas (BSP), announced January 5, 2026. The settlement resolves all disputes stemming from the bank’s controversial closure in November 2019, paving the way for claims processing directly through the bank.
The BSP stated: “We have mutually and amicably resolved all disputes… for the protection of the interests of depositors and bank clients.” AMA Bank will remain under BSP supervision to ensure proper implementation.
How Depositors Can Claim Payments
- Submission Deadline: Claims must be filed within 30 days from January 5, 2026 (until February 4, 2026).
- Process: Submit claims and inquiries directly to AMA Bank (contact details via their website or branches).
- Background Assets: PDIC transferred P259.43 million in cash assets to AMA Bank in March 2025, complying with court orders. The bank asserts sufficient funds for settlements.
The closure—ordered for alleged liquidity issues—was ruled unlawful by the Court of Appeals (2022) and upheld with finality by the Supreme Court (2024), leading to prolonged delays until this agreement.
Depositors (total liabilities ~P1.4 billion in 2019, ~8,434 accounts) endured years of uncertainty; many had staged protests. This resolution offers long-awaited relief.
Case Timeline Snapshot:
| Date/Event | Details |
|---|---|
| Nov 2019 | BSP orders closure; PDIC takeover |
| 2022-2024 | Courts rule closure unlawful; final SC decision |
| Mar 2025 | PDIC transfers P259M assets |
| Jan 2026 | BSP-AMA compromise; claims process opens |
A hard-fought win for depositors—contact AMA Bank promptly!