PH Banks Poised for Growth, Innovation in 2025 and Beyond

The Bangko Sentral ng Pilipinas (BSP) expressed confidence in the banking system's resilience and potential, highlighting the industry's strong performance in 2024 and its optimistic outlook for the years ahead.

- KEISHA TA-ASAN

During the 2025 Annual Reception for the Banking Community, BSP Governor Eli Remolona Jr. said it is crucial to collaborate in driving digital transformation and financial inclusion.

"As we look ahead to 2025 and beyond, I am thrilled to continue working with you to build on our shared successes," he told close to 340 guests Friday evening.

"Let us continue working together on digitalization and financial inclusion. Let's also intensify our efforts on Open Finance to ensure that people can choose financial services that best suit their needs," he said.

The governor emphasized that the shared commitment between the BSP and the banking community continues to strengthen the industry as a driver of economic growth.

"Having worked with many of you over the years, I know that we share the same goals, and we share the same drive to make the banking industry a stronger engine for jobs and growth for the Filipino people," Remolona said.

He also congratulated the community for a "milestone-filled" 2024, citing the country's upgrade in S&P Global Ratings' credit rating outlook.

The BSP, together with its private partners and other government agencies, also launched the interest rate swap (IRS) peso market and expanded the government repo market.