PH financial system resources rose by 11%

INQUIRER PHOTO / GRIG C. MONTEGRANDE

MANILA, Philippines – The Philippines’ financial system resources continued to grow in April as banks continued to fuel growth through lending and higher deposits despite market volatility and economic uncertainty stemming from the conflict in the Middle East.

Excluding the resources of the central bank, total funds and assets held by the local financial sector went up by an annualized rate of 11 percent to P37.3 trillion, data from the Bangko Sentral ng Pilipinas (BSP) showed.

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