September 09, 2018 at 07:00 pm
Julito G. Rada
THE Bangko Sentral ng Pilipinas sees a positive outlook for rural banks as the industry shows sustained expansion in terms of assets, loans, deposits and capital.
Latest BSP data showed the industry’s assets expanded 8.3 percent to P216.7 billion as of end-March 2018, funded by the 6.7-percent growth in deposits to P154.8 billion.
Capital adequacy ratio—a measure of financial strength—stood high at 19.1 percent. Meanwhile, return on equity was solid at 7.1 percent while annualized net profit was reported at P2.9 billion at end-March 2018.
“The rural banking industry demonstrates its strength as shown by the positive growth in assets, loans, deposits and capital based on the latest data as of end-March 2018. The industry also continues to be profitable and operates with a wide physical network,” Bangko Sentral said over the weekend.