The sale of assets is part of PDIC’s strategy to be an “expeditious” liquidator of closed banks, which would help ensure that closed banks get the maximum recoverable value from their assets.
To do this, PDIC said it conducts asset disposal initiatives such as biddings and auctions as well as negotiated sales.
The deposit insurer said interested buyers may visit their website at http://www.pdic.gov.ph and use PDIC’s property finder feature for information on available assets for sale.
Established in June 1963, PDIC provides deposit insurance to ensure depositor protection and help maintain the stability of the country’s financial system. Since 2009, the maximum deposit insurance coverage provided by PDIC is P500,000 per depositor.
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