PDIC’s new normal asset disposal yields P46.3M in 1st semester of 2022

The Philippine Deposit Insurance Corporation (PDIC) reported P46.3 million in total sales from four public electronic biddings (e-biddings) for the first semester of 2022 which represented a premium of P14.6 million or 46% of the aggregate minimum disposal price of P31.7 million.

Sold were 12 properties comprising four residential lots, three residential lots with improvements, three commercial lots with improvements, and two agricultural lots. These properties are located in Bukidnon, Cagayan, Laguna, Misamis Oriental, Pampanga, Quezon, and South Cotabato.

As the designated receiver of banks ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas, the PDIC manages and liquidates the remaining assets of closed banks. Proceeds from these disposal activities are added to the pool of funds of closed banks where payments for claims of closed bank creditors and uninsured depositors are sourced.

The PDIC shifted to e-bidding of corporate and closed bank assets in response to the asset disposal challenges under the new normal. The user-friendly e-bidding portal provides property buyers with a safe and convenient platform to bid for properties and other assets in the closed banks’ asset portfolio without having to be physically present for the ebiddings.  Through a one-time registration in the e-bidding portal, interested buyers can access and bid for a variety of real and other properties for disposal.

For inquiries, interested parties in Metro Manila may call the PDIC Public Assistance

Department during office hours at (02) 8841-4141. Prospective buyers outside of Metro

Manila may call the PDIC toll-free hotline during office hours at 1-800-1-888- PDIC or 1800-1-888-7342. Inquiries may also be sent through e-mail at pad@pdic.gov.ph, or by private message to either of the PDIC’s Assets for Sale Facebook page,

@PDICAssetsforSale; or its official Facebook page, @OfficialPDIC.