Resources of PH banks up 12% in Q2Steady growth in lending and deposit activities boost domestic banking resources to P12.86 trillion as of end-June this year, up 11.83 percent from the same period last year of P11.50 trillion. The 64 thrift banks had resources of P1.06 trillion, up 9.95 percent compared to last year’s P965 million. This includes non-banks which had P2.98-trillion resources as of January as well as rural banks’ P220 billion. Other than deposits, the growth in total resources also came from the expansion in securities and other non-financial assets. The biggest thrift bank in asset-size is BPI Family Savings Bank followed by PS Bank (Metrobank subsidiary), RCBC Savings Bank, Philippine Business Bank and City Savings Bank.

Source: Manila Bulletin October 11, 2016 14:15 UTC