PDIC selling 97 corporate, closed bank properties 

The Philippine Deposit Insurance Corporation (PDIC) will sell 97 corporate and closed bank properties through electronic public bidding (e-bidding), according to a report by Philippine News Agency.

In a statement Monday, PDIC said bids will be accepted through its e-bidding portal at https://assetsforsale.pdic.gov.ph, starting at 9 a.m. on Aug. 27 until 1 p.m. on Aug. 28.

Bids will be opened at 2 p.m. on Aug. 28, 2025.

To be sold on an as-is-where-is basis are 31 vacant residential lots, 25 residential lots with improvements, 24 vacant agricultural lots, five agricultural lots with improvements, five memorial lots, three mixed residential or agricultural lots with improvements, two mixed vacant residential or agricultural lots, and two commercial lots with improvements.

The properties are located in Aklan, Bataan, Batangas, Cavite, Ilocos Sur, Iloilo, Isabela, Laguna, Lanao del Norte, Leyte, Negros Occidental, Negros Oriental, Nueva Ecija, Palawan, Pampanga, Pangasinan, Rizal, Romblon, Tarlac, and Zambales.

PDIC said prospective buyers can join the e-bidding through a one-time registration on the portal at https://assetsforsale.pdic.gov.ph/Account/Register.

They may also access the portal by clicking the Assets for Sale icon in the PDIC website's homepage at www.pdic.gov.ph.

Once registered, buyers may proceed to submit their bids online.

Interested buyers are encouraged to visit the catalog of properties in the e-bidding portal, where the complete list and description of the properties, requirements, e-bidding process, and conditions of bid are posted.

Prospective bidders are enjoined to conduct their due diligence on the properties, determine the actual condition, status, ownership, and other circumstances of the properties they wish to acquire.

It also reminded interested parties to carefully read the e-bidding terms and conditions outlined by the PDIC.

As the statutory receiver of closed banks, the PDIC liquidates the remaining assets of closed banks to maximize recovery and help pay claims of closed bank creditors, including depositors with uninsured deposits.

Proceeds from the sale of closed bank-owned properties go directly to a fund that the Corporation manages for these closed banks to settle creditors’ claims.

Revenues from the sale of corporate assets are added to the Deposit Insurance Fund, the funding source for valid deposit insurance claims.