Financial sector resources climb to P34.29-T in March

The total resources of the Philippine financial system grew by 6.7 percent year-on-year as of end-March 2025, according to data released Friday by the Bangko Sentral ng Pilipinas (BSP).

Figures show that combined resources of banks and non-bank financial institutions reached P34.29 trillion in March, up from P32.11 trillion in the same period last year.

Banking institutions accounted for a significant portion of the increase, with their total resources rising to P28.46 trillion from P26.45 trillion a year earlier. Universal and commercial banks posted P26.63 trillion in resources, up from P24.78 trillion, while thrift banks also saw an uptick, reaching P1.17 trillion from P1.12 trillion.

Digital banks contributed P130.4 billion to the total, while rural and cooperative banks posted P527.1 billion in resources.

Non-bank financial institutions also registered growth, with their combined resources climbing to P5.83 trillion from P5.66 trillion in March 2024. This segment includes BSP-supervised entities such as investment houses, financing and investment companies, securities brokers, pawnshops, lending firms, non-stock savings and loan associations, credit card companies, government-owned non-bank institutions, authorized agent banks, and foreign exchange dealers.

Rizal Commercial Banking Corporation Chief Economist Michael Ricafort attributed the increase to sustained growth in bank lending, which also bolstered deposit expansion.

“The said growth is also consistent with the continued growth in banks’ net income that adds to banks’ capitalization, which also supports more lending and investment activities,” Ricafort said.