PH financial sector resources rise to P34.29T in March — BSP

The total resources of the Philippine financial sector expanded by 6.7 percent year-on-year, reaching P34.29 trillion as of end-March 2025, according to data released Friday by the Bangko Sentral ng Pilipinas (BSP).

This marked an increase from P32.11 trillion reported during the same period last year, reflecting robust performance across both banks and non-bank financial institutions.

The BSP data showed that banks accounted for the bulk of the growth, with their combined resources rising to P28.46 trillion from P26.45 trillion in March 2024. Universal and commercial banks led the charge with P26.63 trillion in total assets, up from P24.78 trillion year-on-year.

Thrift banks also posted a modest increase, growing to P1.17 trillion from P1.12 trillion, while digital banks contributed P130.4 billion to the total. Rural and cooperative banks collectively held P527.1 billion in resources.

Meanwhile, non-bank financial institutions—such as investment houses, financing and investment companies, securities dealers, and credit card firms—recorded total resources of P5.83 trillion, up from P5.66 trillion a year earlier.

Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort attributed the increase to continued loan growth among banks, which in turn supported a steady rise in deposits.

"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.

The latest figures signal sustained expansion in the financial sector, bolstered by positive earnings and improved lending capacity—key indicators of economic momentum heading into the second quarter of 2025.