Assets of Philippines' largest banks expand by 9.5% in Q1

The combined assets of the Philippines’ largest banks grew by nearly 10% in the first quarter compared with a year earlier, driven by lower interest rates.

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In the latest edition of Business-World’s quarterly banking report, the aggregate assets of 44 universal and commercial banks rose by 9.51% year on year to P26.84 trillion in the first three months of 2025, higher than P24.51 trillion in the same quarter in 2024.

However, this pace was slower than the 10.02% logged in the fourth quarter.

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed banks’ combined assets rose by 5.5% to P26.89 trillion as of end-April from P25.48 trillion in the same period a year ago. (Related story: Banks’ assets rise to P26.89 trillion at end-April).

Meanwhile, total loans of these big banks expanded by 13.46% to P14.03 trillion in the Janu-ary-to-March period, a tad faster than the 12.32% posted in the same period a year earlier.

Quarter on quarter, loan growth slowed from 13.59% in the fourth quarter of 2024.