Total deposit liabilities in the Philippine banking system grew 7.3 percent to P20.9 trillion in the third quarter of 2025 from P19.5 trillion a year earlier, according to the Philippine Deposit Insurance Corp. (PDIC).
The state deposit insurer reported that the robust growth was accompanied by a 20.4-percent increase in the total number of deposit accounts, which reached 166.6 million as of end-September 2025 from 138.3 million in the same period in 2024. Total deposit liabilities increased by P1.4 trillion during this period.
Individual depositors drove the increase, contributing P764.2 billion in new inflows and representing 53.4 percent of the total growth in system-wide deposits. Individual deposits rose 8.1 percent year-on-year to P10.2 trillion.
Private corporations also recorded significant gains, with corporate deposits increasing P422.9 billion, or 6.9 percent, to P6.6 trillion. Other sources, including government deposits, contributed the remaining P244.5 billion increase.
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 percent of the total increase, was recorded between end-March and end-September 2025.
Data showed that 15.3 million deposit accounts, representing 54.0 percent of the year-on-year increase, were posted during this same period.
Estimated insured deposits grew 42.1 percent to P5.1 trillion as of end-September 2025 from P3.6 trillion a year ago. Fully insured deposits reached P3.1 trillion, a 59.3 percent year-on-year increase, while partially insured deposits rose 22 percent to P2.0 trillion.
The number of fully insured deposit accounts expanded by 29.6 million, or 21.9 percent, to 164.6 million. With the new MDIC level of P1 million per depositor per bank, 98.8 percent of all deposit accounts are fully insured, up from 97.6 percent 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.
The adjustment 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.
