A nationwide poll undertaken by the Bangko Sentral ng Pilipinas (BSP) in the third quarter of this year indicated that fewer Filipino households have set aside money for emergencies and other needs. According to the central bank's latest Consumer Expectations Survey, the percentage of households with savings fell to 25.2 percent in July-August from 28.3 percent in the previous quarter. "Respondents with savings kept their money, wholly or partially, in various institutions," the BSP added. More than two-thirds of household savers (67.7 percent), down from 69.6 percent in the previous survey, kept their money in banks. As a result, the number of households holding bank savings accounts has decreased from 19.4 percent to 17 percent.

Source: Manila Times September 26, 2021 12:20 UTC