Inquirer
PH financial system’s resources cross P33 trillion
The Philippine financial system's total resources expanded by 8% to P33.78 trillion in 2024, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).
These resources, representing funds and assets like credit, deposits, capital, and bonds, support the financing requirements of the country's growing economy.
Banks continued to hold the bulk of the domestic financial system's resources, with an 83.66% share.
Total funds and assets held by banks amounted to P28.26 trillion in 2024, marking an 8% growth.
The resources of universal and commercial banks grew by 8.7% to P26.44 trillion.
Thrift banks posted a 6.36% expansion in resources, totaling P1.17 trillion.
Digital banks saw significant growth, with their resources climbing by 33.47% to P121.78 billion.
Resources of rural and cooperative banks also increased by 18% to P527.1 billion.
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