State deposit insurer Philippine Deposit Insurance Corporation (PDIC) announced on Friday, Feb. 28, that it will raise its insurance coverage for bank deposits, increasing the protection for depositors’ savings. As per the insurer’s first memorandum this year, released on Friday, Feb. 28, the...
Eighty-one percent of the insured depositors of three recently closed banks have already been reimbursed with ₱281.2 million in 2024, the Philippine Deposit Insurance Corporation (PDIC) reported. According to the government-run deposit insurance fund, 94 percent of the ₱298.6 million total...
Roberto B. Tan Roberto B. Tan, president and chief executive officer of the Philippine Deposit Insurance Corporation (PDIC), was elected to the Executive Council of the International Association of Deposit Insurers (IADI). Tan was elected during IADI's 23rd Annual General Meeting in Tokyo, Japan....
“The secret of getting ahead is getting started” – Mark Twain. With rising living costs, saving is tough for many Filipinos, especially minimum wage earners. Waiting for a higher income to save makes it harder to develop the habit. While income affects saving, low income shouldn't hinder...
Aivie and her family almost lost all that they had when tropical storm Ondoy unleashed rains of epic proportions on 26 September 2009, submerging their home and everything in it. As soon as the flood waters subsided, they were faced with a very difficult question: how to pick up the pieces and move...
Saving money is a smart way to achieve goals and secure the future. But without the right mindsets, it can be very challenging. “ Your beliefs become your thoughts Your thoughts become your words Your words become your actions Your actions become your habits Your habits become your values...
As the cost of living continues to go up, having savings can provide a strong sense of assurance and security. It can help us pay for unexpected expenses and improve our living standards. And if properly planned out, savings can lead us to live comfortably in our sunset years. Hence, the habit...
“Planning is bringing the future into the present so that you can do something about it now.” Alan Lakein Accomplishing financial goals does not happen by chance. It requires adequate preparation, beginning with a well-thought-out plan. The importance of preparing for economic and financial...
Saving in Banks – Gateway to Financial Security The road to financial security and a bright future starts with saving. The habit of setting aside a portion of our earnings gives us the foundations for meeting our future needs and many of the things we want in life. By saving regularly, we can...
State-owned Development Bank of the Philippines (DBP) has signed a memorandum of agreement with the Philippine Deposit Insurance Corporation (PDIC) to facilitate the payment of insurance claims to depositors of closed banks, a top official said. DBP President and Chief Executive Officer Emmanuel G....
In 2021 amid a crippling coronavirus pandemic, the Philippine Deposit Insurance Corporation (PDIC) revised its vision to enhance its effectiveness. The revised vision states: “By 2023, the PDIC will be a leading institution in governance, recognized for its operational excellence in depositor...
The time spent in settling insurance claims and resolving loan accounts in closed banks was significantly reduced following the Philippine Deposit Insurance Corp.’s (PDIC) shift to digital platforms, the Department of Finance (DOF) said. Roberto B. Tan, PDIC president and chief executive officer...
