NEWS/PRESS RELEASE
PR-009-20
Date of Release: February 18, 2020
FOR IMMEDIATE RELEASE

The Philippine Deposit Insurance Corporation’s (PDIC) quality management system (QMS) for real property disposal operations was recently certified by TÜV Rheinland Philippines, Inc. as compliant with ISO 9001:2015 standards, bringing to four the total number of PDIC frontline services certified under the new ISO standards.

The QMS of three other corporate services continued to be compliant with ISO 9001:2015 standards in 2019. SOCOTEC Certification Philippines, Inc. re-certified the QMS for claims settlement operations (CSO) and assessment of member banks (AMB) in May 2019 while TÜV Rheinland retained the ISO certification of the QMS for loans management (LM) in November 2019.

PDIC President Roberto B. Tan said that the certifications are testament to the Corporation’s continuing pursuit of its vision to be a leading institution in depositor protection with its adherence to the highest standards in delivering services to clients. He expressed optimism that PDIC will be able to maintain the ISO certifications for these processes moving forward and to pursue ISO certifications of other frontline services for organizational effectiveness and efficiency.

In its audit report, TÜV Rheinland commended PDIC’s commitment to assist clients through the implementation of the PDIC Assets for Sale microsite, a web-based system that provides comprehensive information on the properties for sale including a public bidding calendar and answers to frequently asked questions. The microsite includes a facility to download forms and a direct messaging function to expedite communication with account officers.

PDIC, as state deposit insurer, promotes and safeguards the interest of the depositing public by way of providing deposit insurance coverage on all insured deposits. As statutory receiver, PDIC is also mandated to liquidate the assets of closed banks through loans collections and management and disposal of assets through public biddings, auctions and negotiated sale. Proceeds from loans collections and asset disposal are added to the pool of liquid assets of closed banks to help settle claims of uninsured depositors and creditors.

TÜV Rheinland Group, founded in 1872, is a global provider of technical, safety, and certification services with headquarters in Germany and operates in 520 offices in 69 countries. SOCOTEC Certification International, on the other hand, is based in France and is a global provider of management systems assessment and ISO certification services to organizations in 26 countries from Latin America, Europe, Asia-Pacific, Africa, India and the Middle East.

* * * * *

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) 8841-4636 to 39
Trunkline: (02) 8841-4000
Website: www.pdic.gov.ph.
Email: ccd@pdic.gov.ph
Facebook: www.facebook.com/OfficialPDIC
Twitter: www.twitter.com/OfficialPDIC