The Philippine Deposit Insurance Corporation (PDIC) has assured that despite the P107.23 billion remittance to the national government, its deposit insurance fund (DIF) remains adequate to cover risks in the banking system.
"The adequacy is more than what the directors targeted for that. So, it's in good shape. So, I don't think there's anything to be alarmed about," PDIC president Roberto Tan told reporters on the sidelines of the 2025 Annual Reception for the Banking Community at Bangko Sentral ng Pilipinas office in Malate, Manila late Friday.
The PDIC remitted P107.23 billion in compliance with the congressional mandate under the General Appropriations Act of 2024 and strictly in accordance with the opinion rendered by the Office of the Government Corporate Counsel.
Tan said the PDIC still has more than P250 billion DIF after the P107 billion remittance.
“We assure the public that after the remittance, the Deposit Insurance Fund of the PDIC remains adequate to cover risks in the banking system and that the PDIC is still capable of delivering its services effectively, in case of insurance calls,” Tan said in a separate statement released by the Department of Finance (DOF) on Sunday.
"The DIF continues to be maintained within the target level set by its Board of Directors based on international best practices.”
The DOF clarified that the amount remitted to the Bureau of the Treasury supports government efforts to boost the economy.
It said these projects will spur more economic activities that are expected to lead to higher deposits in banks and the growth of financial institutions to provide more financial products and services to Filipinos nationwide.
The DOF said the remittance significantly contributed to funding major infrastructure and social programs, such as the maintenance, repair, and rehabilitation of major infrastructure facilities; Protective Services for Individuals and Families in Difficult Circumstances/Assistance to Individuals in Crisis Situations; Philippine Food Stamp Program; various projects to advance the government’s disaster-related infrastructure projects; and rural electrification efforts through the Financial Subsidy for the Purchase of Photovoltaic Mainstreaming.
The funds also supported counterpart financing for foreign-assisted projects, including the Panay-Guimaras-Negros Island Bridges; Metro Manila Subway Project; Philippine Multi-Sectoral Nutrition Project; Mindanao Inclusive Agriculture Development Project; Cebu-Mactan Bridge and Coastal Road Construction Project; North-South Commuter Railway System; Support to Parcelization of Lands for Individual Titling Project; Teacher Effectiveness and Competencies Enhancement Project; and Philippine Fisheries and Coastal Resiliency Project.
The DOF said the investments will drive economic growth by generating employment, boosting incomes and reducing poverty.
PDIC PHOTO
