State-run Philippine Deposit Insurance Corp. (PDIC) said it generated P411.4 million from asset disposals in 2024, a 24.7-percent increase from P330 million in 2023.
The state deposit insurer said it sold 281 properties, comprising 71 PDIC-acquired assets and 210 owned by closed banks. Of the total, P194.9 million was raised through public biddings, with the remaining P216.4 million from negotiated sales.
It said that while the number of assets sold in 2024 matched the 2023 levels, the total value exceeded the aggregate minimum bid price of P398.3 million by P13.1 million, or 3.3 percent.
Proceeds from closed bank asset disposals are held in trust by the PDIC to settle claims of closed bank creditors, including depositors with uninsured deposits. Sales proceeds from corporate assets bolster the Deposit Insurance Fund (DIF), the primary source for deposit insurance claim payments.
The PDIC said it remains committed to improving its asset disposal programs through “innovative disposal strategies,” including buyer segmentation, partnerships with Pag-IBIG (Home Development Mutual Fund), virtual tours, and an enhanced property search engine on its website.
The agency said it aims to further increase asset sales and improve financial recoveries to support the stability of the financial system.
