March 13, 2013

Resources of Philippine Banks reached P8.36 T in 2012

Data from the Bangko Sentral ng Pilipinas has shown that banks in the country ended the year 2012 with consolidated resources of P8.36 trillion, which is up by 9.4 percent from P7.64 trillion the previous year.

Bank resources are composed largely of deposists from the public, profits and retained earnings. From the total resources in 2012, universal and commercial banks accounted for P7.49 trillion, up by 16.4 percent.

Thrift banks accounted for P681.55 billion, while rural and cooperative banks accounted for the balance of 187.62 billion