The Philippine Deposit Insurance Corporation (PDIC) announced a 24.7% year-on-year increase in asset sales for 2024, generating a total of P411.4 million from the successful disposal of 281 properties, up from P330 million in 2023. This growth highlights the Corporation’s continued effectiveness in implementing robust and strategic asset disposal programs.
Of the 281 assets sold, 71 were PDIC-acquired, while 210 were assets from closed banks. The sales total exceeded the aggregate minimum bid price of P398.3 million by P13.1 million, or 3.3%, underscoring the Corporation’s ability to maximize property values through competitive pricing mechanisms.
Public bidding accounted for P194.9 million of the total sales, reflecting PDIC’s push for transparency and competitive value realization. Properties not sold at auction were subsequently offered through negotiated sales, which contributed an additional P216.4 million in revenues.
Proceeds from the sale of closed bank assets are held in trust by the PDIC and are used to settle claims of creditors, including depositors with uninsured funds. Meanwhile, income from the sale of PDIC’s corporate assets helps strengthen the Deposit Insurance Fund (DIF), the primary resource for paying out deposit insurance claims.
To further boost asset recoveries, the PDIC has implemented a suite of innovative strategies, including:
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Segmentation and profiling of prospective buyers
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Strategic partnerships, such as with Pag-IBIG
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Conducting virtual property tours
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Enhancing the user experience on its Assets for Sale microsite
These initiatives aim to expand buyer reach, streamline sales processes, and maximize recoveries — ultimately supporting the stability of the financial system by channeling idle assets back into productive economic use.
PDIC remains steadfast in its mission to protect depositors and promote financial stability.
