THE total resources of the country's financial system grew by 10.5 percent to P32.33 trillion as of end-June from P29.25 trillion a year earlier, data from the Bangko Sentral ng Pilipinas (BSP) showed.
THE total resources of the country's financial system grew by 10.5 percent to P32.33 trillion as of end-June from P29.25 trillion a year earlier, data from the Bangko Sentral ng Pilipinas showed.Total financial resources are classified according to types of banks — universal/commercial, thrift, rural and nonbank financial intermediaries — and include assets before provisions for anticipated losses, bond discounts or premiums and market gains or losses.
Thrift banks, and rural and cooperative banks, meanwhile, posted gains of 11.17 percent and 10.4 percent, respectively, to P1.13 trillion and P458 billion from last year's P1.01 trillion and P415 billion.Digital bank resources surged to P111 million in June, up 40.5 percent from P79 million last year.Non-banks, meanwhile, posted a 2.4-percent gain to P5.32 trillion from P5.20 trillion a year earlier.
Financial Sector Resources Rise To P32.3T As Of End-June
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