PDIC sells ₱137.9M worth of bank properties through e-auction

The Philippine Deposit Insurance Corporation (PDIC) will sell 76 corporate and closed bank properties worth ₱137.9 million through an electronic public bidding process from May 28 to May 29.

Properties include various types of lots across multiple provinces, ranging in value and size, with Palawan having the largest share worth ₱31.9 million followed by Cavite at ₱18.2 million.

The properties consist of 25 vacant agricultural lots, 24 vacant residential lots, 13 residential lots with improvements, six mixed residential or agricultural lots with improvements, four agricultural lots with improvements, two mixed vacant residential or agricultural lots, and two commercial lots with improvements.

Proceeds from the sale will be used to settle creditors' claims on closed bank assets or added to the Deposit Insurance Fund (DIF) for valid deposit insurance claims.

PDIC encourages potential buyers to conduct thorough due diligence, understand the terms and conditions of each property before bidding, and visit the catalog of properties in the e-bidding portal at http://assetsforsale.pdic.gov.ph/Account/Register.