MANILA — The Philippine Deposit Insurance Corporation (PDIC) has strengthened its collaboration with the banking sector through a learning session aimed at enhancing depositor protection and consumer education.

The initiative was carried out in partnership with the Bankers Institute of the Philippines (BAIPHIL) during its Training and Development Week held from March 9 to 14, 2026.

As part of the program, PDIC Vice President Jose G. Villaret Jr. led a session titled “Maximum Deposit Insurance Coverage (MDIC) @P1 Million: Theoretical and Operational Perspective for Bankers” on March 10.

Villaret highlighted that the increase in the maximum deposit insurance coverage (MDIC) to P1 million per depositor, per bank is a proactive measure to strengthen depositor protection and promote financial stability.

The adjustment was based on economic indicators and aligned with international best practices. Data showed that the share of insured deposits to total deposits rose from 18.4 percent in 2024 to 23.9 percent in 2025, exceeding the international benchmark of at least 20 percent.

The MDIC is backed by the Deposit Insurance Fund (DIF), which serves as PDIC’s capital account. Villaret assured participants that the fund remains robust and well-managed, making any increase in assessment rates for banks unnecessary.

He also urged banks to take a more active role in promoting deposit insurance awareness, citing their direct interaction with depositors as an advantage in disseminating information.

Banks were encouraged to share PDIC’s public awareness materials across various platforms, including television, radio, outdoor advertisements, and social media, to help inform clients about deposit insurance coverage.

The PDIC, established under Republic Act No. 3591, is mandated to protect depositors through deposit insurance and support the stability of the financial system. The increase in MDIC from P500,000 to P1 million took effect on March 15, 2025 following approval by the PDIC Board of Directors.