NEWS/PRESS RELEASE
PR-052-19
Date of Release: June 20, 2019
FOR IMMEDIATE RELEASE

The Philippine Deposit Insurance Corporation (PDIC) was recognized as one of the best governed government-owned or -controlled corporations (GOCCs) in the Philippines for calendar year (CY) 2016 by obtaining a score of 96.0% and ranking second among 84 GOCCs based on the recent evaluation of the Governance Commission for GOCCs (GCG) using the Corporate Governance Scorecard (CGS).

“The recognition is a validation of PDIC's commitment to the highest standards of good governance. The Corporation is celebrating its 56th anniversary on June 22 and this is a fitting tribute to the organization's men and women for their professionalism, commitment and responsiveness. This will certainly inspire the whole PDIC workforce to continue providing exemplary service to protect the depositing public,” PDIC President Roberto B. Tan said.

President Tan said that professional, committed and responsive service is the hallmark of PDIC's brand of public service. The Corporation's Roadmap for 2019 to 2023 focuses on enhancing total customer experience through excellence, transparency and good governance.

The GCG adopted the Corporate Governance Scorecard for GOCCs, patterned after the ASEAN Corporate Governance Scorecard and based on the Principles of Corporate Governance for State-owned Enterprises by the Organization for Economic Cooperation and Development (OECD), to raise the standards of corporate governance practices of GOCCs and be at par with the ASEAN state-owned enterprises. The Scorecard rates the GOCCs' policies and practices in stakeholder relations, disclosure and transparency, and Board responsibilities.

PDIC has consistently been recognized by the GCG as one of the best governed GOCCs in the bureaucracy, ranking number one in the Scorecard for consecutive years 2014 and 2015.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PhP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.

Corporate Communications Dept.
Tel: (02) 841-4637 / Fax (02) 841-4833
Trunkline: (02) 841-4000
Website: www.pdic.gov.ph.
Email: ccd@pdic.gov.ph
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