Inquirer
Funds raised by PDIC from asset sales breach P400 million
The Philippine Deposit Insurance Corporation (PDIC) announced that it generated P411.4 million from selling 281 properties in 2024, marking a 24.7% increase compared to the P330 million generated in 2023.
The total value of assets sold in 2024 surpassed the aggregate minimum bid price by P13.1 million.
Out of the 281 properties sold, 71 were PDIC-acquired assets and 210 belonged to closed banks.
Public biddings accounted for P194.9 million of the total sales, while negotiated sales contributed P216.4 million.
Proceeds from the sale of closed bank assets are held in trust by PDIC to settle claims of creditors, including depositors with uninsured deposits.
The sales proceeds from corporate assets are added to the Deposit Insurance Fund, which is the main source for paying deposit insurance claims.
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