Philippine bank deposits grew by nearly double digits to P22.04 trillion as of end-March 2026, driven largely by higher savings among individuals and businesses, according to Philippine Deposit Insurance Corp. (PDIC).
Philippine Deposit Insurance Corp. (PDIC) has signed separate five-year cooperation deals with two German counterparts, marking the first formal Philippines-Germany collaboration focused on strengthening deposit insurance systems.
Philippine Deposit Insurance Corp. (PDIC) has formally extended deposit insurance coverage to Islamic banks (IBs) and Islamic banking units (IBUs) in the country.
The increase in the maximum deposit insurance coverage is part of a broader initiative to maintain financial stability and protect depositors’ funds.
The state-run deposit insurer said this amount accounts for 94 percent of the total estimated insured deposits in those banks across 7,482 deposit accounts.