The Philippine financial system’s resources totaled P35.8 trillion at the end of November, latest Bangko Sentral ng Pilipinas (BSP) data showed, up 7.1 percent from P33.4 trillion a year earlier.
The eleven-month tally, which remains preliminary and does not include the central bank’s resources, are also higher than the full-year results of P34.17 trillion in 2024, P31.52 trillion in 2023 and P29.04 trillion in 2022.
Banks accounted for the bulk at P29.7 trillion, up 7.7 percent from P27.6 trillion as of end-November last year.
Of this, universal and commercial banks accounted for P27.6 trillion, a 6.9-percent increase from P25.8 trillion a year earlier.
Thrift banks followed with P1.42 trillion, 24 percent higher compared to the year ago P1.15 trillion.
Digital banks’ total resources rose by 38.6 percent to P165.9 billion from P119.7 billion while rural and cooperative banks saw a 1.5-percent increase to P505.9 billion from P498.3 billion.
The resources of non-bank financial institutions, meanwhile, grew by 4.7 percent to P6.1 trillion from P5.83 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.
The data for non-bank financial institutions are as of end-June, the BSP noted.
Sought for comment, Reyes Tacandong & Co. senior adviser Jonathan Ravelas said the sustained expansion reflected improved sentiment.
“Households are saving more, firms are slowly borrowing again, and banks are deploying capital into higher-yielding securities,” Ravelas said.
“It’s a sign the financial system remains liquid and resilient,” he added.
