Philippine Deposit Insurance Corporation - Government

About Philippine Deposit Insurance Corporation - Government

The Philippine Deposit Insurance Corporation (PDIC) is a government instrumentality established on June 22, 1963 to promote and safeguard the interests of the depositing public by providing insurance coverage on all insured deposits. As the state deposit insurer, the PDIC provides deposit insurance up to PhP500,000 per depositor, and helps promote financial stability through risk mitigation and liquidation of closed banks. The Corporation also protects the deposit insurance system from illegal schemes and machinations, and helps maintain faith and confidence in the country ’s banking system. In support of financial literacy and inclusion, the PDIC carries out financial education initiatives to help Filipinos secure their future by being a wise saver. A professional, committed and responsive institution; and a champion of governance, the PDIC is a consistent awardee as one of the best-governed Government-Owned and -Controlled Corporations (GOCCs) in the country. The Corporation is an attached agency of the Department of Finance. The PDIC Vision By 2023, PDIC will be a leading institution in depositor protection, recognized for its operational excellence that is responsive to changing times. The PDIC Mission We protect the depositing public while promoting confidence and stability in the banking system.