Overview
- IPAB, now the court-appointed liquidator, activated its payment platform and expects transfers to insured depositors within 48–72 business hours after registration.
- Authorities say 32,656 clients are covered up to 400,000 UDIs—about 3.42 million pesos—representing 99.4% of CIBanco’s depositors.
- Roughly 196–197 customers above the coverage cap are recognized as creditors and must await asset sales and judicial proceedings for any excess recovery under the legal order of precedence.
- The payout totals 4,044 million pesos, roughly 3.35% of IPAB’s fund, which the agency projects to restore in about two months through routine bank contributions rather than public funds.
- CIBanco has begun formal liquidation of about 3,082 employees, with severance and benefits to be paid in accordance with labor law as the institution winds down.