Philippines top banks resilient despite tariff tensions – S&P

The country's top banks remain on solid footing despite growing global uncertainties stemming from tariff tensions and geopolitical risks, according to S&P Global Ratings.

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In its latest analysis, S&P said the top 10 Philippine banks are well capitalized, enjoy stable funding bases and are poised to weather external shocks owing to the Philippines’ domestically driven economy. These banks collectively hold 85 percent of total industry assets.

“Philippine banks’ credit quality will stay strong amid relatively benign economic conditions,” S&P said.

“Their strong capitalization and liquidity provide a buffer against unexpected risks,” the debt watcher said.

While the report acknowledged that indirect effects of global tariff disputes including slower global growth, currency volatility and weaker consumer confidence could weigh on bank earnings, the broader macroeconomic outlook for the Philippines remains favorable.