THE Philippine financial system’s resources totaled P37.45 trillion in the first three months of the year, latest Bangko Sentral ng Pilipinas (BSP) data showed, up 8.6 percent from P34.48 trillion a year earlier.
The three-month tally, which remains preliminary and does not include the central bank’s resources, is also higher than the full-year totals of P37.13 trillion for 2025, P34.17 trillion for 2024, P31.52 trillion for 2023 and P29.04 trillion for 2022.
Banks accounted for the bulk at P31.1 trillion, up 9.2 percent from P28.5 trillion in January-March last year.
Of this, universal and commercial banks accounted for P28.87 trillion in the first quarter, an 8.4-percent increase from P26.63 trillion in the same period last year.
Thrift banks followed with P1.5 trillion, 25.16-percent higher compared to the year ago P1.2 trillion.
Digital banks’ total resources rose by 44.8 percent to P188.7 billion from P130.3 billion while rural and cooperative banks saw a 4.01-percent increase to P565 billion last year from P543.2 billion in 2025.
The resources of non-bank financial institutions, meanwhile, grew by 5.8 percent 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.
The data for non-bank financial institutions are as of end-September, the BSP noted.
Sought for comment, Philippine Institute for Development Studies senior fellow John Paolo Rivera said the increase reflected continued growth in bank lending, deposits and investments and showed that the financial system remained liquid and broadly resilient despite a more challenging macroeconomic environment.
“Total resources should continue to grow, but likely at a more moderate pace as elevated inflation, slower growth, and geopolitical uncertainty may temper borrowing demand and increase risk aversion,” he said.
“[The] key issue is whether asset quality and credit conditions remain healthy as economic pressures persist.” NIÑA MYKA PAULINE ARCEO
