NEWS/PRESS RELEASE
PR-109-19
Date of Release: July 11, 2019
FOR IMMEDIATE RELEASE

Stronger, more responsive partnership. Philippine Deposit Insurance Corporation (PDIC) President Roberto B. Tan (seated, center) leads the “Convergence” – a consultation briefing with Davao bankers on how PDIC and the banking community can forge a stronger, more responsive partnership to further build depositor confidence and provide improved financial services for the depositing public. Convergence, held on June 19, 2019, was part of PDIC’s activities in the pilot run of the PDIC Caravan – Abot Lingkod Program.

The Philippine Deposit Insurance Corporation (PDIC) held the “Convergence”, a consultation briefing with members of the Davao Bankers Association, on June 19, 2019 at the Marco Polo Davao to discuss how PDIC and the banking community can forge a stronger, more responsive partnership to further build depositor confidence and provide improved financial services for the depositing public. Convergence was part of PDIC’s activities for the pilot run of the PDIC Caravan – Abot Lingkod Program which will make PDIC services more accessible to its regional stakeholders.

In his message to the bankers, PDIC President Roberto B. Tan said that he looks forward to regular consultations between PDIC and the banking sector to pursue service innovations for the depositing public.

PDIC Vice President of Corporate Affairs Group Jose G. Villaret, Jr. presented an overview of the PDIC and its critical role in promoting depositor protection and financial stability. He also discussed the new PDIC logo and tagline which, together, will be the new seal of protection to encourage the public to save in banks. The new PDIC logo and tagline will be part of information collaterals to be shared with banks.

Other initiatives discussed were the Consolidation Program for Rural Banks (CPRB) which aims to encourage rural banks to merge and consolidate to improve financial strength, strengthen governance, and expand market reach. Additionally, opportunities for business expansion were presented to banks such as industry statistics on deposits, and available assets of closed banks and corporate assets which may be acquired through public biddings or negotiated sale.

Davao Bankers Association President Jerome B. Camina welcomed the partnership with PDIC, citing how the protection provided by PDIC through deposit insurance enables banks to confidently assure their clients that their deposits are safe. “PDIC’s deposit insurance will always add up confidence to our clients,” Camina said.

The Convergence with Davao Bankers was among the activities held during the PDIC Caravan – Abot Lingkod Program which highlighted the observance of the 17th Depositor Protection and Awareness Week (DPAW) on June 16 to 22, 2019. This year’s DPAW theme is “Bank deposit mo, protektado!”, which is meant to inform and assure the public that there is a government institution that promotes and safeguards the interests of the depositing public by providing insurance coverage on all insured deposits. “Bank deposit mo, protektado!” is also PDIC’s official corporate tagline.

PDIC aims to sustain the conduct of the Caravan in various regions nationwide to make PDIC’s services more accessible to stakeholders.

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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.
PHILIPPINE DEPOSIT INSURANCE CORPORATION
Tel: (02) 841-4637 / Fax (02) 841-4833
Trunkline: (02) 841-4000
Website: www.pdic.gov.ph.
Email: ccd@pdic.gov.ph
Facebook: www.facebook.com/OfficialPDIC
Twitter: www.twitter.com/OfficialPDIC