THE PHILIPPINE BANKING SYSYTEM

The Philippine banking System, as of June 2007, is made up of 38 commercial banks (KB’s), 83 thrift banks (TB’s), and 737 rural banks.


Consolidated resources of the banking system rose by 9.1 percent to P5.087 trillion as of end –june-7007 from its year-ago level of P4.664 trillion. The increase was due mainly to the rise in banks portfolios and deposits with the Bangko Sentral ng Pilipinas (BSP). Commercial banks continued to account for almost 90% of the total resources of the banking system.


The banking system liabilities as of end-June 2007 continued to grow robustly as it posted an increase of 13.6% to P3.615 trillion from its year ago level of P3.184 trillion.


Demand and time deposits sustained their year-on-year growth of 33.9% and 19.3%, respectively. Savings deposits, which continued to account for half of the banks funding base, similarly increased by 4.7% compared to their level a year ago.( Manila Bulletin, Januay 4, 2008)



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