THE government-owned Philippine Deposit Insurance Corp. (PDIC) looks to raise P93.8 million from the sale of 45 agricultural lots located in Luzon through a public electronic bidding (e-bidding). The e-bidding will take place on January 27 this year, according to its statement released on Tuesday. Bids for these shuttered bank properties will be accepted through its e-bidding platform at https://assetsforsale.pdic.gov.ph, according to the state deposit insurer. PDIC said interested parties can go to the PDIC Assets for Sale website at http://assetsforsale.pdic.gov.ph/ to complete the mandatory one-time registration. "The disposal of these assets increases the chances of recovery of uninsured depositors and creditors of their trapped funds in the closed banks," PDIC added.

Source: Manila Times January 05, 2022 01:13 UTC