PH financial sector’s total resources up 7.9%
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NewsTranscript
00:00The total resources of the Philippine financial sector increased about 8 percent in January of
00:05this year. Based on the preliminary data of Banco Central ng Pilipinas, the total resources of
00:11banks and non-bank financial institutions reached 33.66 trillion pesos, which is up by 7.9 percent
00:19from 31.18 trillion pesos in January last year. Meanwhile, the total resources of the BSP climbed
00:25to 27.5 trillion pesos from 25.62 trillion pesos. The thrift bank's resources went up by 1.15
00:34trillion pesos from 1 trillion pesos last year. And the digital bank's resources rose to 133.3
00:41billion pesos from 92.6 billion pesos. Also, the non-bank's total resources soared to 5.70 trillion
00:50pesos from 5.56 trillion pesos last year. Non-banks are those BSP-supervised investment
00:56houses, financing companies, investment companies, securities dealers or brokers, pawn shops,
01:03lending investors, non-stock savings and loan associations, as well as credit card companies,
01:08government non-bank financial institutions, and authorized agent banks and forex corporations.