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Maximum Deposit Insurance for Each Depositor Php500,000
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PDIC President takes oath of office

February 6, 2017

New PDIC President. Department of Finance (DOF) Secretary Carlos G. Dominguez III administers the oath of office of Roberto B. Tan as President of the Philippine Deposit Insurance Corporation (PDIC) in simple ceremonies at the DOF on February 3, 2017.

Former National Treasurer Roberto B. Tan was sworn into office as the new President of the Philippine Deposit Insurance Corporation (PDIC) by Department of Finance (DOF) Secretary Carlos G. Dominguez III at the DOF on February 3, 2017.

He succeeded Cristina Q. Orbeta who was elected by the PDIC Board of Directors as President in November 2014.

Prior to joining the PDIC, President Tan served as National Treasurer of the Bureau of the Treasury for two terms from 2008 to 2012 and from 2015 to 2017, and concurrently served as the Officer-in-Charge of the International Finance Group of the Department of Finance from 2015 to 2016. He was Executive Director of the World Bank Group and Affiliates from 2012 to 2015. President Tan has extensive experience in public finance having assumed several key positions in the Department of Finance, including Undersecretary from 2005 to 2008, Assistant Secretary from 1999 to 2005, and Director in the early 1990s for the International Finance Group. He also assumed the post of Advisor to the Executive Director of the Asian Development Bank Board. His professional background includes treasury management, international finance, consumer credit, and management consulting.

He also served as an Alternate Member of the Board of several government agencies including the Monetary Board of the BSP, National Food Authority, Philippine Export-Import Credit Agency, Land Bank of the Philippines, Philippine Health Insurance Corporation, Home Development Mutual Fund, Philippine National Railways, Housing Guaranty Corporation, and the Foundation for the Philippine Environment.

President Tan holds a Masterís degree in Economics from Fordham University, New York, USA, where he also pursued doctorate studies. He obtained his MBA from the Ateneo de Manila University where he likewise received his Bachelorís degree in Economics.

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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 P500,000 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.

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PDIC is a government instrumentality created in
1963 by virtue of Republic Act 3591, as amended,
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