Manila: The Philippine Deposit Insurance Corporation (PDIC) will sell 97 corporate and closed bank properties through electronic public bidding (e-bidding).
According to Philippines News Agency, bids will be accepted through PDIC's e-bidding portal at https://assetsforsale.pdic.gov.ph, starting at 9 a.m. on Aug. 27 until 1 p.m. on Aug. 28. The bids will be opened at 2 p.m. on Aug. 28, 2025.
The properties, to be sold on an as-is-where-is basis, include 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.
These properties are located across various regions including 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 stated that 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 on the PDIC website's homepage at www.pdic.gov.ph. Once registered, buyers can proceed to submit their bids online.
Interested buyers are encouraged to visit the catalog of properties in the e-bidding portal, which contains the complete list and description of the properties, requirements, e-bidding process, and conditions of bid. Prospective bidders are advised to conduct due diligence on the properties, determining their actual condition, status, ownership, and other circumstances.
The PDIC also reminded interested parties to carefully read the e-bidding terms and conditions outlined by the corporation. As the statutory receiver of closed banks, 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 are allocated directly to a fund managed by the Corporation for settling creditors' claims. Revenues from the sale of corporate assets contribute to the Deposit Insurance Fund, which serves as the funding source for valid deposit insurance claims.
