By Kathleen A. Martin (The Philippine
Star) | Updated October 19, 2015 - 12:00am
MANILA, Philippines - State-run
Development Bank of the Philippines (DBP) will be disposing P80.27 million
worth of properties through a bidding next week.
In an invitation to bid, the bank said
two adjoining lots in Camarines Norte worth P16.99 million and four adjacent
industrial lots in Davao worth P18 million would be available on Oct. 29.
A commercial or residential lot in
Eastern Samar worth P11.72 million and 15 individually titled lots in Laguna
with an aggregated sum of P40.55 million would also be up for grabs.
DBP said it would receive sealed bids
on Oct. 29 at the bank’s head office in Makati City.
Bidders have been reminded to inspect
the properties before participating as the properties would be auctioned off on
an as-is, where-is basis.
“DBP reserves the right to reject any
or all bids, to waive any formality therein, or to accept such bids as may be
considered most advantageous to the bank. The decision of the bank is final and
binding,” the bank said.
DBP grew its net income by 19 percent
to P2.35 billion in the first half from P1.97 billion in the same period in
2014.
Fitch Ratings earlier this month
upgraded its credit outlook on the bank to “positive” from “stable” as it
believes the country’s better prospects would be able to support the banking
sector in times of crisis.
Fitch has a “BB+” grade awarded to the
bank, reflecting DBP’s moderate asset quality and satisfactory capitalization,
and funding and earning profiles.
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