The domestic banking industry remained resilient in 2022, marked by the sustained growth in assets, deposits and profit, along with adequate capital and liquidity buffers, the Bangko Sentral ng Pilipinas said in a report over the weekend.
adequate capital and liquidity buffers, the Bangko Sentral ng Pilipinas said in a report over the weekend.
“Importantly, the financial soundness indicators on capital adequacy, asset quality, profitability, liquidity and sensitivity to market risk point to the continued stability and resilience of the banking system despite tighter financial conditions,” it said. Universal and commercial banks held the largest share of the total assets of the banking system at 94.2 percent . Thrift banks and rural and cooperative banks each held around 4.2 percent and 1.6 percent , respectively.Lending continued to support economic recovery as gross loans climbed 10.8 percent to P12.65 trillion in 2022, faster than the 4.8-percent growth in 2021.
The BSP said that alongside the improvement in credit activity, the banking system’s non-performing loan ratio further eased to 3.2 percent in 2022 from the 4.0 percent in 2021.
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