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Deposits are insured by PDIC up to P500,000 per depositor
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PDIC Director takes oath of office

Mr. Rogelio W. Manalo recently took his oath of office before Department of Finance Secretary Margarito B. Teves as member of the PDIC Board, representing the Private Sector. He had held the position in an acting capacity since October 2007.

Director Manalo is currently the Chairman of the Board Risk Management Committee of the PDIC and a member of the Board Audit Committee.

Prior to joining PDIC, Director Manalo spent more than four (4) decades in government service and banking. He was Governor of the Development Bank of the Philippines and served as President and Director of various private banks. He was also appointed President and Director of various government agencies and private organizations such as the Philippine National Oil Commission Petro-Chemical Development Corporation, Clark Development Corporation, Manpower Development and Youth Council, Board of Tourism and Travel, and Philippine College of Commerce, Clark Development Corporation Services, Inc., Chamber of Commerce of the Philippines, Philippine League of Savings and Loans Association.

He likewise served as an alternate member of the Committee on Preparations of the Asian Development Bank and an alternate member of the Monetary Board of the then Central Bank of the Philippines (now Bangko Sentral ng Pilipinas).

Director Manalo obtained his Bachelor of Arts in Government and Post Graduate in Business Administration from George Washington University in Washington DC, USA.


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PDIC is a government instrumentality created in 1963
by virtue of Republic Act 3591, as amended, to insure
the deposits of all banks. PDIC exists to protect
depositors by providing deposit insurance coverage for the depositing public and help promote financial stability. PDIC is an attached agency of the Bangko Sentral ng Pilipinas.
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