Assets of Phl banks up 12% to P25.5 T

Local banks continued to post double-digit growth in total resources this year, further expanding by 12 percent year-on-year to reach P25.48 trillion as of end-April, data from the Bangko Sentral ng Pilipinas (BSP) showed.

- KEISHA TA-ASAN

On a monthly basis, however, the banks’ total assets went down by 0.6 percent from P25.65 trillion as of end-March.

Banks’ resources include funds and assets such as deposits, capital, bonds and debt securities.

Assets of universal and commercial banks increased by 11.9 percent to P23.93 trillion from P21.38 trillion a year ago. Big banks accounted for 93.9 percent of the banking industry’s total assets as of end-April.

Resources of thrift banks grew by 9.2 percent to P1.03 trillion as of end-April from P947 billion in the comparable period last year. Midsized banks covered four percent of the overall banking resources.