THE Philippine Deposit Insurance Corp. (PDIC) generated P72.1 million from the sale of 15 closed banks’ properties through two public biddings held in November 2018 in Makati City.

Sold assets yielded an aggregate premium of P6.5 million against the total minimum disposal price of P65.6 million.

Sold assets consisted of five residential lots, two residential lots with improvement, one commercial lot, four commercial lots with improvement, two motor vehicles and one generator set located in Luzon and Visayas.

Proceeds from the sale of closed banks’ properties are added to the pool of liquid assets of these banks for distribution to creditors and uninsured depositors in accordance with the rules on concurrence and preference of credits. PR