From March 2025-March 2026

Bohol deposits grew 18.7%,

higher than region’s growth

TAGBILARAN CITY, Bohol (PIA)—In a year, Bank deposits in Bohol grew by 18.7 percent, registering a figure double than the regional growth and even drowning Cebu’s deposit growth, data from the Philippine Deposit Insurance Corporation (PDIC) showed.

In fact, in March of 2025, PDIC noted 126 banking offices in Bohol, a figure that became 130, or four new bank offices setting offices here, and helping the province attain a physical bank growth rate of 3.2%, which much higher than the regional bank growth of 1.8 percent and Cebu’s 1.6 percent, the same government corporation data also revealed.

PDIC Vice President for Corporate Affairs Group Jose Villaret Jr., said that since March 2025 when the PDIC Board approved the increase of maximum deposit insurance to P1,000,000 from 500,000 since 2009, bank deposits in Bohol went from P83.9 billion to 99.5 billion for what he termed as a sizable growth.

Coming in for the PDIC regional leg of their national run on PDIC 101: understanding Deposit Insurance for Bohol Media, Villaret hinted that the PDIC Board decision has caused Boholano depositors to re-engage in banking.

PDIC believes the bigger amount of insurance coverage has pushed more Boholanos to regain interest in deposits and that they are confident their hard-earned money is assured safe.

It may be recalled that in 1963 when the PDIC became a government entity, the maximum deposit insurance coverage (MDIC) was then at P10,000.00

MDIC refers to the maximum amount of depositor’s money in an insured bank is guaranteed as safe by the PDIC.

By 1978, through Presidential Decree No 1451, the deposit insurance went up to P15,000, then by 1984, through PD 1897, it shot to P40,000.

It was in 1992 when the maximum deposit insurance was raised to 100,000 through RA 7400.

In 2004, the Congress again legislated for a P250,000 maximum deposit insurance through RA 9302, and again raised it via RA 9576 to P500,000 in 2009.

It was only in 2022, when the decision to increase the maximum deposit insurance was transferred to the PDIC Board that it approved a P1,000,000 maximum deposit insurance and this was formalized with RA 3591 as amended, Villaret narrated.

The current MDIC is at P1,000,000 pert depositor per bank, effective March 2025, he clarified.

The increase in the MDIC was apro-active easure to enhance depositor protection and promote financial stability. (PIABohol)

DEPOSIT INTEREST. PDIC VP for Corporate Affairs Jose Villaret Jr., pointed out that in a year’s time, bank deposits in Bohol grew from 83.8 billion to 99.5 billion, a growth PDIC credits to the economic situation plus regained confidence with the bigger deposit insurance coverage. (PIAbohol)