BANKS operating in the Philippines booked total assets of P7.541 trillion as of end-February, up 5.7 percent from P7.064 trillion a year earlier, the Bangko Sentral ng Pilipinas (BSP) said recently.
The increase in the assets may be traced to rising deposit base–a reflection of strong confidence in the banking system, according to the Bangko Sentral.
Universal and commercial banks accounted for 89.7 percent of the industry assets, amounting to P6.763 trillion–from P6.294 trillion in the same comparable period.
Thrift and rural banks accounted for 10.3 percent of total resources at P778.25 billion from P770.52 billion. (GMA News)