Philippine Deposit Insurance Corporation

Also known as PDIC

The Philippine Deposit Insurance Corporation (PDIC) is responsible for protecting depositors and maintaining stability in the banking system by insuring deposits up to ₱1 million per depositor, promoting financial confidence. Recently, PDIC announced an auction of 97 bank properties on August 28, 2025, to settle creditors' claims or bolster the Deposit Insurance Fund. Additionally, PDIC has renewed its agreement with Korea's KDIC and is consulting stakeholders to update guidelines for bank advertisements in light of increased deposit insurance coverage.

This is an AI-generated summary based on recent coverage.
Last updated at July 29, 2025.

Recent stories about PDIC

PDIC reports 24.7% increase in asset sales proceeds to PHP411.4M

The Philippine Deposit Insurance Corporation (PDIC) reported a 24.7 percent increase in proceeds from asset sales in 2024, generating PHP411.4 million, up from PHP330 million the previous year.
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PDIC covers Islamic bank deposits up to PHP1M

Islamic banks and Islamic banking units in the Philippines are now covered by the country's deposit insurance system, according to the Philippine Deposit Insurance Corporation (PDIC).
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PDIC sells ₱137.9M worth of bank properties through e-auction

The Philippine Deposit Insurance Corporation (PDIC) will sell 76 corporate and closed bank properties worth ₱137.9 million through an electronic public bidding process from May 28 to May 29.
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PDIC, KDIC renew 5-year MOU on deposit insurance

The Philippine Deposit Insurance Corporation (PDIC) has renewed a five-year agreement with its Korean counterpart, the Korea Deposit Insurance Corporation (KDIC), to continue bilateral cooperation on deposit insurance.
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PhilHealth transfers P89B to natl treasury, sparks const. debate

The transfer of funds from PhilHealth to the national treasury has sparked debates over its constitutionality and the government's handling of unprogrammed appropriations.
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PDIC doubles max deposit insurance to P1M effective March 15

The Philippine Deposit Insurance Corporation (PDIC) announced on Friday that it will double the maximum deposit insurance coverage from P500,000 to P1 million per depositor per bank, effective March 15.
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PHP4.419T gov't revenue in 2024, beats target

The government's total revenue collections for 2024 reached PHP4.419 trillion, surpassing the target of PHP4.270 trillion and marking the highest revenue effort since 1997.
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PDIC pays P281.5M in deposit insurance to 7,482 accounts

The Philippine Deposit Insurance Corporation (PDIC) paid out a total of P281.5 million in deposit insurance to the insured depositors of three banks ordered closed by the Bangko Sentral ng Pilipinas (BSP) last year.
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DOF: PHP107B PDIC remittance won't affect reserves; DIF remains robust at PHP250B

The Department of Finance (DOF) stated that the PHP107-billion remitted by the Philippine Deposit Insurance Corporation (PDIC) to the national government are unrestricted funds available for other purposes without affecting PDIC's reserve funds.
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PDIC considers raising insurance coverage from P500K to P800K

PDIC President Roberto B. Tan announced that the agency is considering raising the maximum insurance coverage from P500,000 to adjust for inflation and help banks attract more funds.
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