The total resources of the banks in the Philippines continue to expand, as it reached P9.44 trillion at end-September 2013, data from the Bangko Sentral ng Pilipinas (BSP) showed.
End-September resources went up by 19.9 percent compared to the P7.87 trillion recorded in the same period last year. It was also higher than the P9.28 trillion resources posted in the previous month.
Having the largest share in the total resources—72.5 percent—universal and commercial banks recorded about P8.48 trillion resources, up by 20.2 percent from P7.05 trillion a year ago. It was also higher than the P8.32 trillion resources posted in the previous month.
Comprising about 6.5-percent share, thrift banks accounted for P764 billion of the total resources, up year-on-year by 22.8 percent from P622 billion in 2012. It was also higher compared to end-August’s resources of P763.8 billion.
Rural banks, which comprised 1.6 percent of the total resources, recorded P190 billion at end-September. End-September data was not yet available for nonbank institutions, however, end-June data showed that its resources reached P2.26 trillion.
The BSP said that nonbank institutions includes investment houses, finance companies, investment companies, securities dealers/brokers, pawnshops, lending investors, nonstock savings and loan associations, credit card companies and private and government insurance companies.