BIZ BUZZ: PDIC is sure that your bank savings are safe

Up until now, the Marcos administration’s move to dip its hands into the reserve funds of the Philippine Deposit Insurance Corp. (PDIC)—the guardian of bank deposits—is still raising eyebrows and keeping some observers worried about the safety of Filipinos’ bank savings.

It may be recalled that the Department of Finance had reallocated around P107 billion in the PDIC’s Deposit Insurance Fund to supposedly bankroll spending items that would contribute to economic growth. That move had reduced the Fund—which the PDIC can tap to settle deposit insurance claims—to around P250 billion.

But as far as PDIC president and CEO Roberto Tan is concerned, this should not cause public alarm, adding that the size of the fund is still “more than enough.”

“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,” Tan told reporters during the 2025 annual reception for the banking community.

“The banking system right now is very healthy based on financial indicators. So I don’t think there’s anything to worry about,” he added.

While those comments can help soothe anxiety, the public reaction was valid as the situation involved the safety of hard-earned money of Filipinos should another crisis like the Covid-19 pandemic take everyone by surprise.

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For Jose Teodoro Limcaoco, president of the Bankers Association of the Philippines and Ayala-led Bank of the Philippine Islands, the domestic banking industry remains strong.

“Do I think there’s going to be a catastrophic bank failure this year? No,” he said.