Total financial resources in the country increased 10 percent to P16.197 trillion as of end-September from P14.779 trillion a year ago, data from Bangko Sentral ng Pilipinas show.
Resources of the banking sector climbed 10.4 percent to P13.099 trillion from P11.863 trillion a year ago. Universal and commercial banks accounted for P11.804 trillion, up 10.6 percent from P10.670 trillion.
Thrift banks’ resources grew 9 percent to P1.071 trillion from P979.6 billion, while rural banks’ assets improved to P223.4 billion from P212.8 billion.
Resources of non-banks financial institutions, meanwhile, rose 6 percent to P3.097 trillion from P2.916 trillion in the same period last year.
These institutions include investment houses, finance companies, investment companies, securities dealers/brokers, pawnshops, lending investors, non-stock savings and loan associations, venture capital corporations, and credit card companies which are under the regulation of Bangko Sentral.
Also included are private and government insurance companies, such as the Social Security System and Government Service Insurance System.
Bangko Sentral said the total number of financial institutions under its supervision and regulation increased to 27,561 in the second quarter from the previous quarter.
Banking offices in the second quarter increased to 10,936 from 10,849 in the first quarter, amid the continuous expansion of big lenders in their bid to widen their presence nationwide.
Of the total number, universal and commercial banks accounted for 6,133 branches, higher than 6,094 offices a quarter ago. Currently, there are 41 head offices of universal and commercial banks in the entire banking system.
The number of thrift banks’ offices, however, declined to 2,124 in the second quarter from 2,130 as of end-March, following consolidation and exit of weaker players from the industry. There are 64 head offices of thrift banks to date, down from 66 a quarter ago.
Rural and cooperative banks’ offices increased to 2,679 as of end-June from 2,625 a quarter ago but head offices also decreased to 513 from 515 previously.
Non-bank financial institutions with quasi-banking functions also increased to 16,531 offices in the second quarter from 16,463 in the first quarter.
Of this total number, investment houses accounted for 12 offices, non-stock savings and loan associations (200), pawnshops (16,237 from 16,170), and others (82). Offshore banking units, meanwhile, remained at three.
Banks’ total deposits grew 12 percent to P9.638 trillion as of end-June from P8.585 trillion a year ago.