BSP: Financial system sustains growth in 2017

BANKS and non-bank institutions continued to support the growth of the Philippine financial system last year, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

In a statement, the central bank said the system “sustained its growth in 2017 with a positive performance amid volatilities in market conditions and the increasing sophistication of global

Lenders’ strong balance sheets, with positive double-digit growth in assets, loans, investments, deposits and capital, supported the banking system, it added.

- ability, which came from strong interest income from lending

The system’s annual asset increased by 11.6 percent to P15.2 trillion last year. This was driven

trillion and funded by a stable base of deposits that rose 11.6 percent to P11.7 trillion.

by 9 percent to P167.6 billion, while non-performing loan ratio improved to 1.7 percent with a capital adequacy ratio of 15 percent.

Banks also kept liquidity suf-

quality liquid assets as the liquidity coverage ratio registered at 185.3 percent on solo basis.

“The banking system’s foreign currency deposit unit system exhibited strong liquidity and posi-

in the trust industry’s total assets was lifted by the expansion in the teller machines and 71 banks with electronic banking facilities.

institutions, including those with quasi-banking functions and nonstock savings and loan associations,