PDIC expands deposit insurance awareness with Davao media forum

The Philippine Deposit Insurance Corporation, in partnership with the Philippine Information Agency Davao Regional Office, held the third regional run of “PDIC 101: Understanding Deposit Insurance” on Aug. 29, 2025, in Davao City.

The initiative is part of PDIC’s continuing media education program that empowers local journalists with knowledge of the agency’s mandates and the benefits and limitations of deposit insurance.

By equipping media with accurate information, PDIC said journalists can serve as agents of awareness who share the importance of deposit insurance through their platforms.

The program also aims to strengthen depositor confidence in the financial system by promoting greater public understanding of PDIC’s role as state deposit insurer, co-regulator of banks, and statutory receiver of closed banks.

PDIC Vice President Jose G. Villaret Jr. of the Corporate Affairs Group led the Davao session and engaged television, radio, print, and online journalists in a dialogue.

He highlighted the implementation of the new maximum deposit insurance coverage of PHP 1 million per depositor, per bank, which took effect on March 15, 2025.

As the state deposit insurer, PDIC manages the Deposit Insurance Fund, which is used to pay depositors in the event of bank closures ordered by the Monetary Board of the Bangko Sentral ng Pilipinas.

In its role as co-regulator, PDIC works with the BSP and other regulators to strengthen banking stability and issues rules to protect the deposit insurance system.

When a bank is ordered closed, PDIC acts as statutory receiver responsible for asset recovery, loan collections, and liquidation to maximize returns for creditors and uninsured depositors.

Since 2024, PDIC and PIA have partnered to improve public access to financial information and promote financial inclusion nationwide.

Through its wide network, PIA helps PDIC reach more communities and encourage Filipinos to save in banks with confidence that deposits are protected.

The latest run in Davao follows the year’s earlier sessions in Naga City in May and Cebu City in July.

For more information, the public may visit www.pdic.gov.ph or the official PDIC Facebook page at www.facebook.com/OfficialPDIC.