State-run Philippine Deposit Insurance Corp.’s (PDIC) move to double the maximum insurance coverage to ₱1 million partly drove total insured deposits up by more than two-fifths to ₱5.2 trillion in 2025.

This surge represents a ₱1.5-trillion increase from the ₱3.7-trillion level recorded in 2024, with PDIC noting in a statement on Wednesday, April 22, that this sharp increase likewise reflects both sustained public confidence in the banking system and a significantly strengthened financial safety net for depositors.

“A major driver behind this growth was the enhancement of maximum deposit insurance coverage (MDIC), which doubled from ₱500,000 to ₱1 million on March 15, 2025,” the state deposit insurer said.

This specific policy initiative was responsible for ₱1.3 trillion, or 86.1 percent, of the total increase in insured deposits.

The expanded coverage has led to a record number of fully insured accounts, which reached nearly 170 million by the end of 2025, a one-fifth increase from 2024. These accounts now comprise 98.8 percent of all deposit accounts nationwide, highlighting the broad reach of the insurance system for “everyday savers.”

The domestic deposit base also posted solid growth, with total deposits reaching ₱21.7 trillion, up 7.1 percent from a year earlier.

Expansion was largely driven by individual depositors, who accounted for ₱812.1 billion, or 56.4 percent of the increase, while private corporations contributed ₱334.8 billion, equivalent to nearly a quarter of the overall growth.

According to PDIC, these developments are critical to deepening public trust and ensuring that a greater share of savings is protected, providing depositors with enhanced peace of mind regarding the security of their “hard-earned money.” - Derco Rosal