The total resources of the Philippine financial sector expanded by 7.94 percent to P33.658 trillion in January 2025 from P31.181 trillion in January 2024, the Bangko Sentral ng Pilipinas (BSP) said yesterday.
Compared with the month earlier, however, the latest figure shows a 0.9 percent decrease from P33.960 trillion recorded in December 2024, as BSP data showed.
The BSP said the total resources of the country’s financial system consist of funds and assets held by both banks and non-bank financial institutions, including deposits, capital and bonds or debt securities.
Banks accounted for P27.954 trillion, or 83.05 percent, of the total resources in January 2025. Bank resources rose 9.10 percent from P25.621 trillion in January 2024, but were lower by 1.06 percent than P28.256 trillion posted in December 2024.
Meanwhile, Non-bank Financial Institutions (NBFIs) saw their assets rise up to P5.704 trillion in January 2025, accounting for 16.94 percent of the total. On a year-on-year basis, this was 2.58 percent higher than the P5.560 trillion posted in January 2024, but exhibited an almost flat growth compared with December 2024.
The BSP said universal and commercial banks resources expanded 8.88 percent to P26.137 trillion in January 2025 from P24.004 trillion in January 2024. This was 1.13 percent lower than the P26.437 trillion in December 2024.
Thrift banks posted 7.33 percent year-on-year growth to P1.156 trillion from P1.077 trillion in January 2024. This was 1.11 percent lower than December’s P1.169 trillion.
Digital banks posted the biggest year-on-year increase of 44.56 percent, reaching P133.3 billion in January this year from P92.6 billion in January 2024. This was also 9.92 percent higher than P121.5 billion in December.
Rural and cooperative banks posted an 18.16 percent gain to hit P527.1 billion from P446.5 billion a year earlier, but posted almost flat growth from December’s P527.1 billion.
Seasonal fluctuation
Jonathan Ravelas, BDO’s lead strategist, said year-on-year growth is “a positive sign of the sector’s resilience and potential for continued expansion.”
“This growth indicates a robust financial environment and increasing economic activity,” Ravelas said in a Viber message on Tuesday.
He explained that the slight 0.9 percent decline from December’s P33.960 trillion suggests some seasonal or short-term fluctuations.
“(These) are not uncommon,” Ravelas said.
