The Philippine Deposit Insurance Corporation (PDIC) and the Bankers Institute of the Philippines (BAIPHIL) partnered to strengthen depositor protection and consumer education during a webinar on March 10, 2026, held as part of BAIPHIL’s Training and Development Week.
PDIC vice president Jose G. Villaret Jr. discussed the Maximum Deposit Insurance Coverage (MDIC) of ₱1 million per depositor, per bank, outlining its policy basis and operational impact on the banking sector.
Villaret said the increase in MDIC, effective March 15, 2025, aims to enhance depositor protection and boost public confidence in the banking system. He noted that the share of insured deposits rose from 18.4 percent in 2024 to 23.9 percent in 2025, aligning with international benchmarks.
He also assured participants that the Deposit Insurance Fund remains strong and well-managed, adding that the higher coverage will not require an increase in banks’ assessment rates.
Villaret urged banks to help promote financial literacy by sharing PDIC information materials across various platforms to raise public awareness of deposit insurance and encourage savings.
The PDIC, mandated under Republic Act No. 3591, protects depositors through insurance coverage and supports financial stability. WITH PR
