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MANILA, Philippines – Philippine banks’ total assets neared the P30.5-trillion mark in May, lifted by loan growth despite the headwinds from the prolonged Middle East conflict.
Total assets of local lenders grew by 12 percent from a year earlier to P30.4 trillion, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.
READ: PH bank assets top P30 trillion
The figure includes cash and due from banks, loans, investments, real and other properties acquired and other assets.
