The Philippine Deposit Insurance Corp. (PDIC) generated P162.0 million from the disposal of 151 corporate and closed bank assets in the first semester of 2024 as part of its asset disposal initiatives.
Total sales from the conduct of public biddings and negotiated sales reached P162.0 million, 4.5 percent or P7.0 million higher compared to the total sales of P155.0 million in the same period last year.
The total sales also exceeded the properties’ aggregate minimum disposal price of P142 million by 14.1 percent, or P20 million. The total number of properties sold reached 151 units, 21.8 percent or 27 properties more compared to the 124 properties sold in the same period in 2023.
The sold assets included 141 residential lots, four agricultural lots, three commercial lots and three mixed residential/agricultural lots. Of the total, 101 were owned by closed banks and 50 were acquired assets of the PDIC. The majority of properties sold were located in Bulacan (47 percent), Laguna (21 percent) and Metro Manila (11 percent).
The PDIC, acting as the statutory receiver of closed banks, liquidates assets owned by closed banks through public biddings and negotiated sales.
