MANILA, Philippines — The Philippine Deposit Insurance Corporation (PDIC) reported a 24.7 percentincrease in asset disposal revenue for 2024, generating P411.4 million from the sale of 281 properties—up from P330 million the previous year.

Of the 281 properties sold, 71 were PDIC-owned assets and 210 came from closed banks. Sales were made through public biddings and negotiated sales, with public biddings bringing in P194.9 million, and negotiated sales accounting for P216.4 million.

The total value of assets sold in 2024 exceeded the aggregate minimum bid price of P398.3 million by P13.1 million, or 3.3 percent higher.

Proceeds from closed bank assets are held in trust by PDIC and used to pay creditors, including depositors with uninsured accounts. Meanwhile, proceeds from the sale of PDIC corporate assets are added to the Deposit Insurance Fund (DIF), which supports deposit insurance payments.

PDIC attributed the growth to improved disposal strategies, including enhanced marketing, streamlined processes, virtual tours for bidders, and targeted buyer segmentation. The agency also partnered with Pag-IBIG and bolstered its online property search tools through the PDIC Assets for Sale microsite.

The Corporation said these efforts aim to boost asset sales, improve financial recoveries, and contribute to economic stability by returning funds to circulation through investment and savings.