PDIC’s Property Disposal Process Retains ISO Certification

The Philippine Deposit Insurance Corporation (PDIC) has successfully maintained its ISO 9001:2015 certification for its quality management system (QMS) in real property disposal following a surveillance audit conducted in November 2024.

In its audit report released in December 2024, TÜV Rheinland, the certifying body, confirmed that PDIC’s QMS for real property disposal remains effective and compliant with corporate policies and objectives.

The audit found no non-conformities, demonstrating PDIC’s continued commitment to international quality standards.

PDIC’s real property disposal process has been ISO 9001:2015 certified since 2019.

The real property disposal process is a key part of PDIC’s mandate to liquidate the assets of closed banks.

The Corporation employs various disposal methods, including public bidding, negotiated sales, lease-purchase agreements, donations, and transfers or sales to government agencies.

TÜV Rheinland also recognized PDIC’s enhancements to its electronic bidding portal, localized promotional campaigns to boost asset sales nationwide, and collaborations with real estate organizations and government agencies to improve asset disposal initiatives.

An ISO 9001:2015 certification is an internationally recognized seal of approval that ensures an organization’s quality management system meets global standards.

Certifications for core corporate processes and their support functions assure clients and stakeholders of efficient service delivery.

Beyond real property disposal, PDIC’s QMS for four other core services remains certified under ISO 9001:2015 standards. These include claims settlement operations, assessment of member banks, loans management, and bank examination.

As the state deposit insurer, PDIC protects the interests of depositors by providing deposit insurance coverage and working with financial regulators to promote stability in the banking system.

As a statutory receiver, the Corporation is responsible for liquidating the assets of closed banks through loan collections and asset disposal. Proceeds from these efforts contribute to the pool of liquid assets, which helps settle the claims of creditors and uninsured depositors.