Various PDIC, closed bank assets up for public e-bidding on September 18-19
The Philippine Deposit Insurance Corporation (PDIC) is set to sell through electronic public
bidding (e-bidding) a total of 69 residential and commercial lots, and two transportation
equipment on its e-bidding portal, https://assetsforsale.pdic.gov.ph, starting at 9:00 am
on September 18, 2024, until 1:00 pm on September 19, 2024. Bids shall be opened at
2:00 pm on September 19, 2024.
To be sold on an as-is-where-is basis are closed banks’ assets consisting of 62 vacant
residential lots, six residential lots with improvements, a commercial lot with
improvements, and two dump trucks. The residential lots are located in Batangas, Benguet,
Laguna, Pampanga, and Rizal while the commercial lot is located in Isabela. Property sizes
range from 240 square meters to 1,651 square meters. The two dump trucks, on the other
hand, are parked at the closed Rural Bank of San Agustin located along Maharlika Highway,
Brgy. Masaya Centro (Pob.), San Agustin, Isabela.
Interested parties can browse through the catalog of properties on the e-bidding portal
where the complete list and description of the properties, requirements, e-bidding process,
and Conditions of Bid are posted. Prospective bidders are encouraged to get familiar with
the terms and conditions outlined by the PDIC and are reminded of their responsibility to
determine the actual condition, status, ownership, and other circumstances of the
properties they wish to acquire.
Prospective buyers can join the e-bidding through a one-time registration on the portal at
http://assetsforsale.pdic.gov.ph/Account/Register. Once registered, buyers may submit
their bids online and observe the e-bidding proceedings by clicking the “Assets for Sale”
icon on the PDIC website’s homepage at www.pdic.gov.ph.
Participants bidding on behalf of another individual or an organization can download the
Pro-forma Special Power of Attorney and Secretary’s Certificate, respectively, from the e-
bidding portal.
As the statutory receiver of closed banks, the PDIC liquidates the remaining assets of
closed banks to maximize recovery. The proceeds from the sale of closed bank-owned
properties are held in trust together with the cash assets, if any, for the settlement of
the creditors’ claims of the closed banks, including the depositors with uninsured deposits.
For more information on the e-bidding, interested buyers within Metro Manila may call the
PDIC Public Assistance Department at (02) 8841-4141 during office hours. Those outside
Metro Manila may call the PDIC toll-free hotline at 1-800-1-888-PDIC or 1-800-1-888-
7342, also during office hours. Inquiries may also be sent via e-mail at pad@pdic.gov.ph,
or private message on PDIC’s Assets for Sale Facebook page (@PDICAssetsforSale) or
PDIC’s official Facebook page (@OfficialPDIC).
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Creditors of Rural Bank of Cuyo (Palawan), Inc. have 2 weeks to file claims against bank’s assets Deadline set on August 30
The Philippine Deposit Insurance Corporation (PDIC) reminded creditors of the closed Rural
Bank of Cuyo (Palawan), Inc. that they only have until August 30, 2024, to file their claims
against the bank’s assets.
PDIC reiterated that claims filed after said date shall be disallowed. Creditors refer to any
individual or entity with a valid claim against the assets of a closed bank and include
depositors with uninsured deposits that exceed the maximum deposit insurance coverage
(MDIC) of P500,000.
The PDIC said that creditors may file their claims through any of the following:
- E-mail at cuyorb-pad@pdic.gov.ph;
- Mail addressed to the PDIC Public Assistance Department, Ground Floor, PDIC Chino
Bldg., 2228 Chino Roces Avenue, Makati City 1231. Claims filed by mail must have a
postmark date no later than August 30, 2024; or - Personal filing at the PDIC Public Assistance Center (PAC) located on the Ground Floor,
PDIC Chino Bldg., 2228 Chino Roces Avenue, Makati City, from Monday to Friday, from
8:00 AM to 5:00 PM. For visits to the PAC, clients are highly encouraged to request an
appointment by calling the Public Assistance Hotline during office hours at (02) 8841-
4141 or at Toll-Free number 1-800-1-888-7342 or 1-800-1-888-PDIC, by sending an
e-mail request to cuyorb-pad@pdic.gov.ph, or by sending a request through private
message at PDIC’s official Facebook page at www.facebook.com/OfficialPDIC.
The prescribed Claim Form against the assets of the closed bank may be downloaded from
the PDIC website at
http://www.pdic.gov.ph/files/Claim_Form_Against_Assets_of_Closed_Banks.pdf. PDIC
reminds creditors to transact only with authorized PDIC personnel.
Claims filed after August 30, 2024, shall be disallowed. PDIC, as Receiver, shall notify
creditors of the denial or disallowance of claims through mail. Claims denied or disallowed
by the PDIC may be filed with the liquidation court within 60 days from receipt of final notice
of denial or disallowance of claim or within 20 days from the date of publication of the
Order setting the Petition for Assistance in the Liquidation Proceeding for an initial hearing,
whichever is later.
In addition, PDIC said that depositors with account balances of more than the MDIC of
P500,000 who have already filed claims for the insured portion of their deposits as of
August 30, 2024, are deemed to have filed their claims for the uninsured portion or the
amount in excess of the MDIC.
PDIC, as Receiver of closed banks, requires personal data from creditors to be able to
process their claims and protects these data in compliance with the Data Privacy Act of
2012.
Rural Bank of Cuyo (Palawan), Inc. was ordered closed by virtue of Monetary Board
Resolution No. 631.C dated June 6, 2024. It is a two-unit rural bank with Head Office
located on Mendoza Street, Bancal, Cuyo, Palawan; and a branch lite unit located in Subic
Bay, Zambales.
All requests and inquiries relating to Rural Bank of Cuyo (Palawan), Inc. shall be addressed
to the PDIC Public Assistance Department through e-mail at cuyorb-pad@pdic.gov.ph, or
through telephone number (02) 8841-4141. Creditors outside Metro Manila may call the
PDIC Toll Free Hotline during office hours at 1-800-1-888-PDIC (7342). Inquiries may also
be sent as a private message to the PDIC’s official Facebook page at
www.facebook.com/OfficialPDIC.
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PDIC rolls out regional media education initiative
PDIC 101 with media. The Philippine Deposit Insurance Corporation (PDIC) engages with members
of the media through “PDIC 101: Understanding Deposit Insurance” in partnership with the
Philippine Information Agency (PIA). The press conference provides the media with a better
understanding of PDIC’s mandates and advocacies to promote depositor protection and help
maintain financial stability. Photo shows members of Bacolod local media as they listen to the
discussion led by Jose G. Villaret, Jr., PDIC Vice President for Corporate Affairs Group (inset) during
the conduct of PDIC 101 on August 6, 2024 in Bacolod City. The succeeding runs of PDIC 101 are
scheduled in the coming months to be held in other regions nationwide.
The Philippine Deposit Insurance Corporation (PDIC) rolled out the regional conduct of its
“PDIC 101: Understanding Deposit Insurance”, a media education initiative to promote
awareness on the important role of deposit insurance in the country’s financial system.
The regional conduct is a sequel to the PDIC 101’s successful pilot run for the year held on
June 7, 2024 in partnership with the Philippine Information Agency (PIA), which is PDIC’s
partner in information dissemination to raise awareness on deposit insurance and the
importance of saving in banks.
The first leg of the regional conduct of “PDIC 101” was held in Bacolod City, Negros
Occidental on August 6, 2024. It served as a refresher course for members of the local
media on the mandates of PDIC as deposit insurer, co-regulator of banks, and receiver of
closed banks. It also acquainted the media about the PDIC’s corporate social responsibility
(CSR) and advocacies for financial literacy and inclusion. Through the PDIC 101, the PDIC
aims to engage the media and tap their wide network to reach more stakeholders and
make the public more aware of the protection provided by PDIC through deposit insurance.
The initiative is also scheduled to be conducted in North Luzon and Mindanao for 2024.
As the state deposit insurer, the PDIC protects depositors by providing a maximum deposit
insurance coverage of P500,000 per depositor per bank. It also continuously builds up the
Deposit Insurance Fund (DIF), PDIC’s main fund source for deposit insurance payments
through prudent fund management and investment in order to further promote depositor
confidence.
As co-regulator of banks, the PDIC works closely with the BSP and other financial regulators
to ensure the stability of the banking system. The Corporation also protects the deposit
insurance system and investigates anomalies, fraud and irregularities in closed banks and
prosecutes erring officers, employees and individuals.
As receiver of closed banks, the PDIC takes over a bank ordered closed by the Monetary
Board of the BSP and administers the closed bank’s assets and affairs to proceed with the
liquidation. The PDIC liquidates closed banks through the collection of loan payment from
borrowers and asset disposal initiatives, proceeds of which are used to settle claims of
closed banks’ creditors and uninsured depositors.
Meanwhile, in support of its CSR statement to empower every Filipino through financial
literacy, the Corporation implements its multimedia public awareness campaign to
promote the habit of saving in banks and securing one’s future. Since 2009, the PDIC has
been implementing its Be A Wise Saver (BAWS) campaign to promote the habits of wise
saving and responsible banking.
For more information on the PDIC, the public is encouraged to visit the PDIC website,
www.pdic.gov.ph and its official Facebook page, www.facebook.com/OfficialPDIC.
