THE Philippine financial system’s resources slipped in April, Bangko Sentral ng Pilipinas (BSP) data showed, ending the month 0.4 percent lower at P37.31 trillion from P37.45 trillion in March.
The total, however, was 10.6 percent higher than the year-earlier P33.74 trillion.
Reyes Tacandong & Co. senior adviser Jonathan Ravelas described the month-on-month drop as a “natural pause, with tighter financial conditions prompting both banks and borrowers to be more measured.”
The four-month tally, which remains preliminary and does not include the central bank’s resources, was also higher than the full-year results of P37.13 trillion for 2025, P34.17 trillion in 2024, P31.52 trillion in 2023, and P29.04 trillion in 2022.
Banks accounted for the bulk at P30.96 trillion, down from P31.1 trillion a month earlier but higher than last year’s P27.75 trillion.
Universal and commercial banks accounted for P28.71 trillion of this, also down from March’s P28.87 trillion but higher than last year’s P25.88 trillion.
Thrift banks followed with P1.5 trillion, up from P1.2 trillion last year.
The total resources of digital banks rose to P195.0 billion from last month’s P188.7 billion and were also higher than April 2025’s P131.6 billion.
Rural and cooperative banks saw an increase to P587 billion from P565 billion last month and P543.2 billion in 2025.
The resources of non-bank financial institutions, meanwhile, grew to P6.35 trillion from P5.99 trillion.
This sector includes BSP-supervised investment houses, financing firms, investment companies, securities dealers and brokers, pawnshops, lending investors, non-stock savings and loan associations, credit card companies, government non-bank financial institutions such as Philippine Guarantee Corp. and Small Business Corp. and foreign exchange corporations of authorized agent banks.
Data for non-bank financial institutions were as of end-December, the BSP noted.
Ravelas said he expected steady but more calibrated growth in the coming months.
“The key drivers will be the interest rate path, strength of credit demand, and capital market activity,” he said.
“If rates start to ease, that could re-energize expansion.”
The BSP’s policymaking Monetary Board last week raised key interest rates by another 25 basis points.
