PH banks become bigger as GDP sustains growth

Defining the News

Philippine banks are becoming bigger, fueled by higher demand for loans and deposits, as the economy sustains its growth towards upper-middle-income-country status.

Bank resources grew 12.3 percent to P27.01 trillion from P24.05 trillion a year earlier, with universal and commercial banks accounting for P25.32 trillion of the total. Money supply or domestic liquidity also expanded 6.6 percent year-on-year to about P17.5 trillion as of end-June 2024.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MlaStandard /  🏆 20. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LVMH's publicity in Olympics ceremony raises eyebrowsDefining the News
Read more »

LVMH's publicity in Olympics ceremony raises eyebrowsDefining the News
Read more »

Canada Olympic women's football team docked six points over drone scandalDefining the News
Read more »

US to help Amazon nations fight illicit finance, Yellen saysDefining the News
Read more »

Olympic beach volleyball starts in drenching rain under Eiffel TowerDefining the News
Read more »

Yulo makes finals of floor exercise, vault and all-aroundDefining the News
Read more »