Only one in 3 Filipinos have bank accounts – WB

THE number of Filipino adults who hold bank accounts rose slightly by 4.7 percentage points in 2014 from 2011, but even with the increase, only about one in three Filipinos have a bank account, according to a World Bank study on financial inclusion .

The World Bank’s Global Findex Database for 2014, released just this month, revealed that 31.3 percent of Filipino adults own a formal account, up from the baseline figure of 26.6 percent reported in the 2011 Findex.