PH financial system’s resources hit P12.8T

The total resources of the country’s financial system—banks and non-banking institutions included—continued to show stability and expanded in the first quarter to P12.83 trillion, up 9.26 percent from the P10.76 trillion recorded a year earlier.

Banks—consisting of universal and commercial banks, thrift banks and rural banks—posted resources that hit P10.46 trillion in the three-month period, up 24.18 percent from P8.42 trillion in the same period last year.