Philippine Deposit Insurance Corporation (PDIC)

The Philippine Deposit Insurance Corporation (PDIC) is a government agency that protects depositors’ money in banks. If a bank in the Philippines fails or closes, PDIC ensures depositors get back their insured deposits up to a certain limit, providing financial safety and stability. It also supervises and helps maintain the health of banks to prevent failures. PDIC’s role is to promote confidence in the banking system by offering security and support to depositors, thereby fostering a stable and trustworthy financial environment in the Philippines.