MANILA, Philippines — State-run Philippine Deposit Insurance Corp. (PDIC) has more than P19 billion worth of real estate properties from banks ordered closed by the Bangko Sentral ng Pilipinas (BSP).

The money could be used to beef up PDIC’s buffer to pay out deposit insurance claims.

PDIC president Roberto Tan earlier told the Senate Committee on Banks, Financial Institutions, and Currencies that the agency has more than 30,000 accounts pertaining to foreclosed real estate properties.

SOURCE:

https://www.philstar.com/business/2021/03/29/2087622/pdics-foreclosed-real-estate-portfolio-hits-p19-billion

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