JAMAICA’S Deposit Insurance Fund (DIF), the pool of money used to protect depositors if an insured financial institution fails, grew 12.2 per cent to $53.3 billion at the end of December 2025. That was almost $6 billion more than a year earlier.

The updated figures, contained in the latest issue of the Economic and Social Survey Jamaica (ESSJ), released by the Planning Institute of Jamaica (PIOJ), also show that the deposit insurance coverage limit would fully covers about 96.4 per cent of deposit accounts in the banking system.

“The average balance held in a deposit account as at December 31, 2025, was $365,276,” the document noted.

“The DIF balance represented 8.6 per cent of the total estimated insured deposits in the banking system, falling within the JDIC’s target reserve ratio of 8–10 per cent — an increase of 0.4 percentage point compared with December 2024,” it further stated.

Established under the Deposit Insurance Act of 1998, the DIF forms part of Jamaica’s Deposit Insurance Scheme (DIS), which protects depositors at Bank of Jamaica-regulated deposit-taking institutions (DTIs). Deposits are insured up to $1.2 million per depositor, per insured institution, with separate coverage available for different ownership categories.

The Jamaica Deposit Insurance Corporation (JDIC) manages the funds.

The fund has more than tripled over the past decade, rising from just under $15 billion in 2015. It is financed primarily through annual premiums paid by member institutions and investment income, providing an important financial safeguard that helps maintain depositor confidence and financial system stability.

Membership in the scheme remained unchanged at 11, comprising eight commercial banks, two building societies and one merchant bank. The commercial banks are NCB, Scotiabank, Sagicor Bank, JN Bank, JMMB Bank, CIBC Jamaica, First Global Bank and Citibank. The two building societies are VM Building Society and Scotia Jamaica Building Society, while the sole merchant bank is Barita Merchant Bank, formerly Cornerstone Trust & Merchant Bank.

At the end of 2025, total assets held by DTIs grew 4.4 per cent to $3.1 trillion as total loans increased by 2.3 per cent to $1.6 trillion, and total deposits rose by 7.9 per cent to $2.2 trillion.

“The capital base grew by 2.4 per cent in real terms to $281.8 billion,” the survey also indicated.

Total assets at commercial banks climbed to $2.8 trillion, up 8.7 per cent in nominal terms and 4.1 per cent in real terms compared with the year which ended December 2024. This was largely driven by growth in loans and advances, up 2.4 per cent; government securities, up 1 per cent; and foreign assets, up 13.8 per cent.

The continued expansion of the DIF strengthens one of the buffers supporting confidence in Jamaica’s financial system.

The fund’s growth also comes against the backdrop of a banking system that the Bank of Jamaica said remained stable in 2025 despite Hurricane Melissa and ongoing geopolitical uncertainty.

“DTIs maintained capital adequacy ratios above the regulatory benchmark, reflecting broad resilience to hypothetical market, credit, and liquidity risk shocks,” the central bank said.

Outgoing BOJ Governor Richard Byles indicated that while credit quality and broader risk conditions could face some near-term pressure, the sector is expected to remain resilient, supported by strong regulatory oversight, adequate capital buffers, and ample liquidity.

The average balance held in a deposit account up to the end of December 31, 2025 was $365,276.