PDIC raises P59.3-M from public bidding of assets

THE Philippine Deposit Insurance Corporation (PDIC) generated a total of P59.3 million from the sale of 10 properties of closed banks through a public bidding held on March 1 in Makati City.

Assets yielded an aggregate premium of P8.9 million against the total minimum disposal price of P50.4 million. These assets, all located in Luzon, consisted of five residential lots with improvements, two residential lots, two commercial lots, and a motor vehicle.

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

The expeditious liquidation of assets is one of the strategic directions of PDIC as liquidator of closed banks. To help ensure that recoveries from closed banks’ assets are maximized, PDIC sells assets via competitive biddings.

Interested buyers are encouraged to visit the PDIC website at and click on the Assets for Sale icon for information on the inventory of available assets for sale.

Unsold assets from public biddings may be acquired by interested parties via negotiated sale. Prospective buyers may communicate with the PDIC Public Assistance Department at (02) 841-4630 or at e-mail address for more information. Those outside Metro Manila may call the PDIC toll-free hotline at 1-800-1-888-7342 or 1-800-1-888-PDIC. Inquiries may also be sent as private message at Facebook through (PR)


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