Non-banks' domestic claims up by 15% in Q4

The domestic claims of nonbank financial institutions increased by 15 percent to P9.05 trillion in the fourth quarter of 2023 from P7.87 trillion in the same quarter in 2022, based on a survey of the Bangko Sentral ng Pilipinas (BSP).

- KEISHA TA-ASAN

However, the growth rate was slower than the 17.8-percent expansion in the third quarter of 2023. On a quarterly basis, domestic claims inched up by 2.7 percent from P8.81 trillion in the previous quarter.

Other financial corporations (OFCs) refer to institutional units providing financial services other than banks, non-banks with quasi-banking functions, non-stock savings and loan associations, and the central bank.