AMA Rural Bank to DepEd:Remit P1.5B or face legal consequences

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AMA Rural Bank of Mandaluyong Inc. (ARB), owned by businessman Amable Aguiluz, has demanded that the Department of Education (DepEd) remit P1.495 billion in unremitted collections from public school teachers, warning of legal action against key officials.

In a letter dated February 12, 2025, ARB chief operating officer Felino H. Esquivias Jr. urged DepEd Undersecretary for Finance Annalyn M. Sevilla to release the funds within five days.

The amount includes P734.57 million collected between September 2019 and April 2022, and an additional P760.6 million from May to November 2022, both under the Automatic Payroll Deduction System.

Sevilla confirmed the initial amount in a May 2022 letter but has yet to remit the funds, ARB said.

The bank warned that failure to comply would result in complaints being filed before the Ombudsman and the Civil Service Commission against Sevilla and other DepEd officials.

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