PDIC raises P59.3 million

THE Philippine Deposit Insurance Corp. (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. (PR)


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