State-run Philippine Deposit Insurance Corp. (PDIC) said it will sell 54 closed bank assets through electronic public bidding on April 24, 2025.
Electronic bids will be accepted through the PDIC e-bidding portal starting at 9 a.m. on April 23 until 1 p.m. on April 24, 2025. They will be opened at 2 p.m. on April 24.
The properties ready for sale, on an as-is-where-is basis, are 24 vacant agricultural lots, 19 vacant residential lots, five vacant residential/agricultural lots, four residential lots with improvements, one agricultural lot with improvements, and one residential/agricultural lot with improvements.
PDIC said these properties, with areas ranging from 71 to 239,343 square meters, are located in Aklan, Bukidnon, Camarines Sur, Isabela, Palawan and Quirino.
“Interested buyers are encouraged to visit the catalog of properties in the e-bidding portal where the complete list and description of the properties, requirements, e-bidding process and conditions of the bid are posted,” it said.
PDIC also asked prospective bidders to conduct their own due diligence on the properties by reviewing and understanding the terms and conditions outlined by the agency.
PDIC, as the statutory receiver of closed banks, said it liquidates the remaining assets of closed banks to maximize recovery and help pay claims of closed bank creditors, including depositors with uninsured deposits.
Proceeds from the sale of closed bank-owned properties go directly to a fund that PDIC manages for the closed banks to settle creditors’ claims.