Banking sector resources up by 8%
By Michelle V. Remo
The resources of the country’s banking sector grew further in October as the expanding economy helped boost the profitability of industry members and deposits from the public.
The resources of the country’s banking sector grew further in October as the expanding economy helped boost the profitability of industry members and deposits from the public.
Resources of the country’s banking sector continued to grow in the third quarter of 2012, boosted by rising deposits from the public and sustained profit generation.
The country’s banking sector continued to enjoy growing resources in July, substantiating claims of regulators that it remains healthy and capable of supporting a faster expansion of the economy through increased lending.
Resources of the banking sector grew further to hit a new high in the first semester.
Resources of the Philippine banking sector grew further to hit a new record high in May as the growing economy boosted deposits, profits and capital levels of banks.
Resources of the banking sector grew in the first quarter, boosting its ability to extend more loans to support more investments and increased consumption in the months ahead.
Banks’ resources rose 6.8 percent in February to P7.54 trillion—up from the P7.06 trillion reported in the same month last year, the Bangko Sentral ng Pilipinas said.
Resources of the country’s banking sector grew further in January, yet again signaling faster growth of the economy this year, monetary officials said.
The combined resources of the country’s banking sector rose in 2011 from the previous year, making monetary officials confident that banks will be able to support government efforts to accelerate economic growth this year following last year’s slowdown.
The banking sector’s resources rose further in November which, according to regulators, showed that banks in the country would be able to support faster economic growth this year.
The Philippine banking system has reported a 9.6-percent increase in total resources as of September 2011 from year-ago level. A report of the Bangko Sentral ng Pilipinas showed that the banks’ total assets reached P7.4 trillion as of end September.
Resources of the country’s banking sector sustained a double-digit pace of growth in the first seven months of the year as rising income levels allowed individuals and enterprises to save more. According to the Bangko Sentral ng Pilipinas (BSP), combined resources of banks in the country amounted to P7.18 trillion as of end-July, up by [...]
