THE Philippine financial system’s resources totaled P36.33 trillion in the first month of the year, latest Bangko Sentral ng Pilipinas (BSP) data showed.
This is 7.3 percent higher than the P33.86 trillion recorded in the same month last year.
Resources hit P37.01 trillion in 2025, which was revised from the previous P36.93 trillion. Preliminary data also showed that resources were at P34.17 trillion in 2024, P31.52 trillion in 2023 and P29.04 trillion in 2022.
Banks accounted for the bulk of the financial system’s resources at P30.1 trillion in January, up 7.7 percent from P27.95 trillion a year earlier.
The remainder was held by nonbank financial institutions, which posted 5.2-percent growth to P6.23 trillion from P5.92 trillion. The count, however, is only up to end-September 2025, the BSP noted.
The nonbank sector includes BSP-supervised investment houses, financing firms, investment companies, securities dealers and brokers, pawnshops, lending investors, nonstock savings and loan associations, credit card companies, government nonbank financial institutions such as Philippine Guarantee Corp. and Small Business Corp., and foreign exchange corporations of authorized agent banks.
It also includes the state-run pension funds, the Social Security System and the Government Service Insurance System, and private insurance firms.
Of the amount held by banks, universal and commercial banks accounted for P27.9 trillion in January, an 6.8-percent increase from P26.14 trillion in the same month last year.
Thrift banks followed with P1.46 trillion, 26.3 percent higher compared to the year-earlier P1.16 trillion.
Digital banks’ total resources rose by 39.8 percent to P174.7 billion from P125 billion, while rural and cooperative banks saw a 7.19-percent increase to P565 billion from P527.1 billion.
The assets for banks are gross of allowance for probable losses and depreciation, while those for nonbanks are also gross of probable losses but net of depreciation. For the pension funds and insurers, these are net of allowance for both probable losses and depreciation.