The Philippine Deposit Insurance Corp. (PDIC) is planning to stage frequent bidding of assets acquired from closed banks as a result of the good proceeds from its biggest bidding for this year held in Davao City last Aug. 1.
PDIC corporate affairs officer-in-charge Jun Villaret said the PDIC has met its target revenues from the bidding, prompting them to schedule more in Metro Manila or in provinces as soon as possible.
The state-owned firm generated over P55 million from successfully bidding out over 60 acquired properties from various closed banks.
“The PDIC is satisfied with the results of the bidding of corporate and closed banks’ properties held in Davao City last Aug. 1 since most of the assets for bidding were sold,” Villaret said.
Disposing of properties from closed banks is a must for any banking institution, including the PDIC, as staying of any acquired property in their possession causes their required and other properties acquired net book to swell.
PDIC to set more bidding for closed banks’ assets
- Written by Ed Velasco
- Thursday, 16 August 2012 00:00
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