RUN deposit insurer Philippine Deposit Insurance Corp. (PDIC) raised P9.9 million from the sale of 27 actual property properties through a public bidding carried out on August 25.
In a announcement on Tuesday, PDIC said the belongings auctioned off include 18 company assets well worth P4.2 million and 9 closed banks’ belongings valued at P5.7 million.
PDIC said the sale yielded a P1.Three-million top class from the authentic disposal fee of P8.6 million for the 27 houses.
The belongings consist of agricultural, commercial and residential masses located inside the provinces of Benguet, Cagayan, Ilocos Sur, Iloilo, La Union, Pampanga, Pangasinan, Quezon and Southern Leyte.
“Proceeds from the sale of closed banks’ homes are delivered to the pool of liquid property of those banks for distribution to uninsured depositors and other creditors in accordance with the rules on concurrence and choice of credit. Meanwhile, proceeds from the sale of corporate belongings are delivered to PDIC’s Deposit Insurance Fund,” PDIC stated.
Economy today 