Total assets of the Philippine banking system rose by more than 10 percent to breach the P25-trillion level in the first quarter of the year, according to the Bangko Sentral ng Pilipinas.
Banks booked an aggregate 10.8 percent growth in assets to reach P25.65 trillion as of end-March from P23.15 trillion in the same period in 2023, based on preliminary data from the BSP.MANILA, Philippines — Total assets of the Philippine banking system rose by more than 10 percent to breach the P25-trillion level in the first quarter of the year, according to the Bangko Sentral ng Pilipinas .
The newer digital banking group also posted a 63.1 percent increase in assets, reaching P96.9 billion as of end-March from P59.4 billion a year ago. Other lenders in the BSP’s top 10 in terms of asset size are Bank of the Philippine Islands, China Banking Corp., Rizal Commercial Banking Corp., Philippine National Bank, Security Bank Corp., Union Bank of the Philippines and Development Bank of the Philippines.
The Bangko Sentral ng Pilipinas could cut borrowing costs by 25 basis points as early as August, and another 25 bps in the...
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippine Drug Enforcement Agency and Philippine Coast Guard Sign Agreement to Intercept Contrabands and Illegal DrugsThe Philippine Drug Enforcement Agency (PDEA) and the Philippine Coast Guard (PCG) have signed a memorandum of agreement (MOA) to collaborate in intercepting contrabands and illegal drugs entering the country by sea shipments. The agreement also aims to prevent the smuggling of controlled precursors and essential chemicals (CPECs) into Philippine territory. Regular meetings will be held to discuss operational matters and exchange knowledge on drug smuggling.
Read more »
Philippines, France, US warships set sail for West Philippine SeaTwo Philippine Navy ships left port yesterday to take part in the Balikatan exercises’ first-ever multilateral naval drills in Philippine waters, along with a US Navy landing ship dock and a French Navy frigate.
Read more »
Philippines military vessels shouldn’t accompany fishers in West Philippine SeaThe country’s military vessels should not accompany fisherfolk in the West Philippine Sea to prevent possible attack from Chinese ships, Sen. Cynthia Villar said yesterday.
Read more »
Marcos: Philippines to invoke MDT if Pinoy killed in West Philippine SeaThe Philippines may invoke the 1951 Mutual Defense Treaty with the US if a sailor or a member of its military is killed in an attack in the West Philippine Sea, President Marcos said yesterday.
Read more »
Livestock Philippines and Aquaculture Philippines 2024: Leading the Way in DrivingBusiness Opportunities and Industry Growth Informa Markets in the Philippines is set to host again the Livestock Philippines and Aquaculture Philippines this year, highlighting innovation and technology to improve the agricultural economy particularly the livestock and aquaculture industries.
Read more »
Livestock Philippines and Aquaculture Philippines 2024 to help push subsector’s developmentPasay City – The country’s premiere trade event for the Philippine livestock, poultry, and aquaculture industries will open its gates to the public from May 22 to 24, 2024 at the World Trade Center in Pasay City.
Read more »