Following its successful engagements with local bank associations in 2024, the Philippine Deposit Insurance Corporation (PDIC) kicked off its 2025 nationwide PDIC-Bankers’ Dialogue series in Laoag City, Ilocos Norte on July 8, 2025.
In partnership with the Bankers Association of Laoag City and Ilocos Norte (BALCIN) and the La Union Chamber of Rural Bankers, the dialogue focused on the scope and recent increase in the maximum deposit insurance coverage to P1 million per depositor, per bank, and related topics such as the increased depositor protection provided by the PDIC through enhanced risk management capabilities, improved regulatory synergy and strengthened partnership with the Bangko Sentral ng Pilipinas (BSP).
Initiated in 2019, the PDIC-Bankers’ Dialogues aim to foster open communication and collaboration between the Corporation and the banking community. By helping banks gain a much deeper understanding of the PDIC’s mandates and programs, the dialogues help ensure alignment in the shared mission of safeguarding the interest of the depositing public and maintaining the stability of the financial system.
Through the Bankers’ Dialogue, the PDIC also encouraged BALCIN and the La Union Chamber of Rural Bankers to maximize partnership opportunities with the Corporation through relevant information-sharing and participation in PDIC programs. The bank representatives also optimized the opportunity to engage PDIC’s top management with key policy questions and other clarifications, promoting open and collaborative communications between the parties.
As the state deposit insurer, the PDIC protects depositors by providing insurance of up to P1 million per depositor, per bank. It also co-regulates banks by working closely with the BSP and other financial regulators to mitigate risks. As the receiver of closed banks, the Corporation takes over banks ordered closed by the BSP and conducts liquidation activities for the benefit of depositors and creditors. As a pillar of the country’s financial safety net, the PDIC regularly holds consultations with stakeholders nationwide to promote depositor protection and financial stability.
