Phl bank assets hit P32.1 T in August

The total resources of the country's financial system went up by nine percent to hit P32.1 trillion as of end-August, the Bangko Sentral ng Pilipinas (BSP) said.

- By LOUISE MAUREEN SIMEON

Data from the central bank showed that banks and non-bank financial institutions booked an aggregate 9.2-percent growth in assets to reach P32.14 trillion in January to August from the P29.43 trillion in the same period last year.

These resources include funds and assets such as deposits, capital, bonds and debt securities.

The growth in resources was fueled by the 10.6-percent expansion in the assets of universal and commercial banks to P25.09 trillion.