The Philippine Deposit Insurance Corporation (PDIC) successfully raised a total of P13.6 million from the sale of 48 real properties of closed banks during its sealed bidding conducted in August 2015.

The properties sold are located in Pasig City and in the provinces of Bulacan, Nueva Ecija and Rizal. Collectively, these yielded a premium of P1.0 million against the aggregate minimum disposal price of P12.5 million. Proceeds from the sale of closed banks' assets will be credited to the funds held in trust for the closed banks concerned to help increase the recovery of and settle claims of creditors and uninsured depositors.

PDIC regularly conducts public biddings in line with the Corporation's strategic direction to expeditiously dispose non-financial assets. PDIC also announced that it will conduct a public auction and sealed bidding of corporate and closed banks properties on October 1 and 2, 2015, respectively.

Aside from public auctions and sealed biddings, PDIC also enters into negotiated sale, as another mode of asset disposal under its asset disposal policy. Interested buyers are encouraged to visit the PDIC website at www.pdic.gov.ph. and use the PDIC's Property Finder for information on available inventory of assets for sale. Prospective buyers may also call the Asset Management and Disposal Group at (02) 841-4651 for inquiries on available assets.

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