The Philippine Deposit Insurance Corporation (PDIC) will sell 40 closed bank assets located in Bukidnon province through electronic public bidding (e-bidding) from 14 to 15 May 2025. Electronic bids will be accepted through the PDIC e-bidding portal, https://assetsforsale.pdic.gov.ph, starting at 9:00 AM on 14 May 2025 until 1:00 PM on 15 May 2025, and will be opened at 2:00 PM on 15 May 2025.
To be sold on an as-is-where-is basis, the properties include 38 vacant residential lots, one residential lot with improvements, and one agricultural lot with improvements. Ranging from 630 to 62,939 square meters, the properties are in Valencia City and the Municipality of Libona, Bukidnon.
Prospective parties 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.
Interested buyers are encouraged to visit the catalog of properties in the e-bidding portal, where the complete list and description of the properties, requirements, e-bidding process, and Conditions of the Bid are posted. Prospective bidders are enjoined to conduct their due diligence on the properties by reviewing and understanding the terms and conditions outlined by the PDIC. Further, prospective buyers are likewise reminded of their responsibility to determine the actual condition, status, ownership, and other circumstances of the properties they wish to acquire.
Winning bidders of agricultural properties are required to submit, within fifteen (15) days after the e-bidding, a Certification issued by the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform where the property is located that the agricultural lot subject of the bid is not covered by the Comprehensive Agrarian Reform Program (CARP) and that no Emancipation Patent or Certificate of Land Ownership Awards has been issued for the said property. Winning bidders are also required to submit an Affidavit of Aggregate Landholdings within the same period, which states that the person’s collective landholdings, including the property/ies to be acquired during the bidding, do not exceed the five-hectare limit set by law. The prescribed format for the Certification and Affidavit can be obtained from the Download Center of the e-bidding portal, https://assetsforsale.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 and help pay claims of closed bank creditors, including depositors with uninsured deposits. Proceeds from the sale of closed bank-owned properties go directly to a fund that the Corporation manages for these closed banks to settle creditors’ claims.
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).
