By Nora Sorino
Iligan City Bureau Chief .
Lanao del Norte Philippine Information Agency on Wednesday said the Philippine Deposit Insurance Corporation will hold public bidding of closed banks this month.
This will be on January 10 and will be at the regional office of the Bangko Sentral in Davao City.
Acceptance of bids will be on January 9, 2019 from 9:00 a.m. to 4:00 pm. and bids will be opened the following day at 10:00 a.m.
It was learned that as liquidator of closed banks, the PDIC undertakes various modes of asset disposals and likewise, it includes disposal of non-financial assets.
These modes include public bidding, negotiated sale and public auction. Properties not sold during auction or public bidding are available for negotiated sale or maybe bid out again.
To recall last year, the Rural Bank of Maigo at Maigo, Lanao Norte was one of the banks in the country that was closed and taken over by the PDIC, Deposits to note are insured up to P500,000 per depositor.
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