By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
MANILA, Philippines — The Philippine financial system’s resources climbed to a record high in May, underscoring the banking sector’s resilience as lenders continued to expand credit and attract deposits despite market volatility and economic uncertainty tied to the conflict in the Middle East.
Excluding the Bangko Sentral ng Pilipinas (BSP), the combined funds and assets held by the country’s financial institutions rose 10 percent from a year earlier to P37.6 trillion, according to central bank data.
READ: PH financial system resources rose by 11%
The total reflects the financial sector’s available resources, including cash, loans, deposits, capital and investment securities, as well as reserves that regulated institutions maintain to absorb potential losses and safeguard financial stability.
