State deposit insurer Philippine Deposit Insurance Corporation (PDIC) reported that total deposit liabilities of the banking system increased by P1.4 trillion, or 7.3%, to P20.9 trillion as of end-September 2025, higher from P19.5 trillion recorded in the same period in 2024.
This robust growth was accompanied by a sharp increase in the total number of deposit accounts in Philippine banks, reaching 28.3 million, or higher by 20.4%, to 166.6 million as of end-September 2025 from 138.3 million as of end-September 2024.
The PDIC said that individual depositors accounted for the majority of new inflows, contributing P764.2 billion in additional deposits as of end-September 2025. This represented 53.4% of the total increase in system-wide deposits for the said period and a year-on-year growth of 8.1% in individual deposits to P10.2 trillion, up from P9.5 trillion at end-September 2024. Private corporations also posted solid gains during the period as corporate deposits increased by P422.9 billion, accounting for 29.5% of the total deposit growth. This reflected a 6.9% year-on-year increase in corporate deposits to P6.6 trillion as of end-September 2025, from P6.1 trillion in the same period in 2024. The remaining increase of P244.5 billion was contributed by other sources, including government deposits.
Following the adjustment of the maximum deposit insurance coverage (MDIC) to P1 million per depositor per bank effective March 15, 2025, P869.4 billion in deposits or 60.7% of the total increase of P1.4 trillion was recorded from end-March 2025 to end-September 2025. Data from the PDIC also showed that of the total increase of 28.3 million deposit accounts year-on-year from end-September 2024 to end-September 2025, 15.3 million deposit accounts, 54.0% or more than half, were posted from end-March 2025 to end-September 2025.
The PDIC also reported that estimated insured deposits recorded a substantial year-on-year increase of 42.1%, growing by P1.5 trillion to P5.1 trillion as of end-September 2025, from P3.6 trillion at end-September 2024.
Meanwhile, fully insured deposits reached P3.1 trillion, posting a 59.3% year-on-year increase of P1.1 trillion from end-September 2024 to end-September 2025. Further, partially insured deposits amounted to P2.0 trillion, higher by 22% or P360.8 billion in the same period.
Consistent with this trend, the number of fully insured deposit accounts expanded by 29.6 million, or 21.9%, to 164.6 million as of end-September 2025, from 135.0 million in the same period in 2024. At the new MDIC level of P1 million per depositor per bank, 98.8% of all deposit accounts are fully insured, up from 97.6% in September 2024.
Since its creation in 1963, the PDIC has increased the MDIC six times, from an initial P10,000 to the current P1 million per depositor, per bank. The adjustment of the MDIC in March 2025 marked a milestone, as it was the first time the Corporation exercised its enhanced authority under the amended PDIC Charter to increase the MDIC without the need for legislation. (PDIC)
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