PDIC to auction off closed bank assets in e-bidding

The Philippine Deposit Insurance Corporation (PDIC) will conduct an electronic public bidding (e-bidding) on September 18-19, 2024, offering 69 residential and commercial lots along with two transportation equipment items.

The auction is set to take place on the PDIC’s official e-bidding portal, with bids to be opened at 2:00 p.m. on September 19.

The assets up for auction include 62 vacant residential lots, six residential lots with improvements, a commercial lot with improvements, and two dump trucks.

These properties, which are being sold on an as-is-where-is basis, are located across various provinces including Batangas, Benguet, Laguna, Pampanga, Rizal, and Isabela.

The dump trucks are parked at the closed Rural Bank of San Agustin in Isabela.

Interested bidders are encouraged to visit the PDIC e-bidding portal (https://assetsforsale.pdic.gov.ph) to browse the full catalog of properties, review detailed descriptions, and familiarize themselves with the bidding process and conditions.

Participants must register on the portal to submit their bids online and can also observe the e-bidding proceedings via the PDIC website.

The PDIC, acting as the statutory receiver of closed banks, is responsible for liquidating the remaining assets to maximize recovery.

The proceeds from these auctions will be held in trust for settling the claims of the creditors of the closed banks, including depositors with uninsured deposits.

For additional information, prospective buyers can contact the PDIC Public Assistance Department or use the toll-free hotline for inquiries outside Metro Manila.

Questions can also be directed via email or through PDIC’s official social media channels.

This e-bidding event presents an opportunity for interested parties to acquire various properties and equipment at competitive prices, while also contributing to the resolution of the financial obligations of closed banks.