State deposit insurer Philippine Deposit Insurance Corporation (PDIC) reported that total deposit liabilities of the banking system increased by ₱1.4 trillion, or 7.3%, to ₱20.9 trillion as of end-September 2025, higher from ₱19.5 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 ₱764.2 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 ₱10.2 trillion, up from ₱9.5 trillion at end-September 2024.
Private corporations also posted solid gains during the period as corporate deposits increased by ₱422.9 billion, accounting for 29.5% of the total deposit growth.
This reflected a 6.9% year-on-year increase in corporate deposits to ₱6.6 trillion as of end-September 2025, from ₱6.1 trillion in the same period in 2024.
The remaining increase of ₱244.5 billion was contributed by other sources, including government deposits.
Following the adjustment of the maximum deposit insurance coverage (MDIC) to ₱1 million per depositor per bank effective March 15, 2025, P869.4 billion in deposits or 60.7% of the total increase of ₱1.4 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 ₱1.5 trillion to ₱5.1 trillion as of end-September 2025, from ₱3.6 trillion at end-September 2024.
Meanwhile, fully insured deposits reached ₱3.1 trillion, posting a 59.3% year-on-year increase of ₱1.1 trillion from end-September 2024 to end-September 2025.
Further, partially insured deposits amounted to ₱2.0 trillion, higher by 22% or ₱360.8 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 ₱1 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 ₱10,000 to the current ₱1 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.
