PDIC generates P10 million from asset sales | ABS-CBN
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PDIC generates P10 million from asset sales
PDIC generates P10 million from asset sales
ABS-CBN News
Published Sep 13, 2016 05:09 PM PHT
MANILA - The Philippine Deposit Insurance Corp. (PDIC) on Tuesday said it generated P10 million from the sale of 27 properties in August.
MANILA - The Philippine Deposit Insurance Corp. (PDIC) on Tuesday said it generated P10 million from the sale of 27 properties in August.
Eighteen corporate assets with a value of P4.2 million and nine shuttered banks valued at P5.7 million were sold in a sealed public bidding last month, the state-run insurer said.
Eighteen corporate assets with a value of P4.2 million and nine shuttered banks valued at P5.7 million were sold in a sealed public bidding last month, the state-run insurer said.
An estimated P1.3 million was collected from the sale of agricultural, commercial and residential lots in the provinces of Benguet, Cagayan, Ilocos Sur, Iloilo, La Union, Pampanga, Pangasinan, Quezon, and Southern Leyte, it added.
An estimated P1.3 million was collected from the sale of agricultural, commercial and residential lots in the provinces of Benguet, Cagayan, Ilocos Sur, Iloilo, La Union, Pampanga, Pangasinan, Quezon, and Southern Leyte, it added.
Proceeds from the sale of closed banks' properties were added to the pool of funds that would be distributed to uninsured depositors and other creditors.
Proceeds from the sale of corporate assets are added to the deposit insurance fund of the PDIC.
Proceeds from the sale of closed banks' properties were added to the pool of funds that would be distributed to uninsured depositors and other creditors.
Proceeds from the sale of corporate assets are added to the deposit insurance fund of the PDIC.
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