Edited Press Release
AMA Bank has announced reaching compromised agreement with the Philippines Deposit and Insurance Corporation (PDIC) and the Bangko Sentral ng Pilipinas (BSP) to finally resolve the pending legal issues from its closure in November 2019. The bank says the deals were signed on March 14 and June 23 this year, respectively.
Thus, AMA Bank has begun releasing payments to deposit accounts with balances of ₱250,000 and below, using a ₱259 million fund returned by the PDIC. As of this writing, about 87% of the bank’s deposit liabilities under the bracket have already 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 ₱250,000 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 ₱982 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 said in message to its customers it released on October 10, 2025 (Friday).
“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,” it continued.
The AMA Bank management advises the public to wait for further announcements about this matter.
