• PDIC RAISES P35.8M FROM PUBLIC BIDDING

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    A total of P35.8 million has been raised by the Philippine Deposit Insurance Corp. (PDIC) from its third public bidding conducted for the year. The PDIC conducted a public bidding for various assets of closed banks on September 27. The bidding involves up to 91 real properties consisting of two former bank premises, one condominium unit and 88 residential lots for a combined minimum disposal price of P46.73 million. In a statement, the PDIC said that the assets sold comprised of five closed banks’ properties and one corporate property, the collective bid offer of which generated a premium of P5.8 million against the minimum disposal price of P30 million.

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