Banks See Growth In Assets, Loans, Deposits

The Bangko Sentral ng Pilipinas (BSP) announced that banks are optimistic about growth projections in assets, loans, and deposits, according to a PNA report.

BSP Deputy Governor Chuchi Fonacier stated that, based on the latest banking sector outlook survey, respondent banks are optimistic about improved loan quality in 2024, accompanied by high loan loss provisioning. I Photo: Asian Bankers Association

During a media information session over the weekend, BSP Deputy Governor Chuchi Fonacier stated that, based on the latest banking sector outlook survey, respondent banks are optimistic about improved loan quality in 2024, accompanied by high loan loss provisioning.

Fonacier emphasized that respondent banks intend to maintain capital and liquidity buffers at levels higher than domestic and global standards to promote institutional stability.

She further highlighted that the Philippine banking system remains fundamentally sound and stable, evidenced by robust growth in assets, loans, deposits, and earnings, along with strong key financial indicators.

Looking ahead, Fonacier mentioned that the BSP will launch initiatives to advance institutional stability and financial sector resilience.

This includes preparing the National Risk Assessment on Money Laundering/Terrorist Financing, with the final report expected in 2025.

Additionally, the BSP's supervisory agenda for the year involves operationalizing an enhanced resolution framework, strengthened macro-prudential oversight, enhanced stress testing, and a thematic review of key risk areas.

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