RP’s banking system still fragmented

Published by rudy Date posted on March 21, 2010

The Philippine banking system remains fragmented, with no single bank considered too big too fail as those in the United States, a Bangko Sentral official said Friday.

“Leading agencies even say that the industry is fragmented because for the size of the economy, there are still too many universal and commercial banks at 38,” Bangko Sentral Deputy Gov. Nestor Espenilla said.

“I don’t think the industry is that concentrated too begin with, so the issue of ‘a bank too big to fail’ is not accurate here,” he added.

Chamber of Thrift Banks president Pascual Garcia, however, said the collapse of giant banks in the US only meant that a further consolidation of the banking industry was not necessarily good for the industry.

The number of banks and other financial institutions in the Philippines reached 23,028 in the third quarter of 2009, slightly up from 22,939 in the second quarter.

Financial institutions include the head offices and branches of banks, as well as head offices and branches of non-banks financial institutions.

Data from the Bangko Sentral showed that the number of banks and their branches increased to 7,914 offices as of September last year, up by 16 from 7,898 in June.

There were 797 banks as of September, down from 804 in June. These included 38 universal and commerical banks, with 4,406 branches; 73 thrift banks with 1,225 branches; and 686 rural banks with 1,486 branches.

There were also 6,583 non-banks, with a total of 8,531 branches as of September.

These include insurance companies, investment houses, finance companies, securities dealers/brokers, pawnshops, lending investors, non-stock savings and loan associations, mutual building and loan associations, venture capital companies and credit card companies.

Universal and commercial banks are heavily concentrated in Metro Manila while Calabarzon and Central Luzon have the most number of rural banks.

“There are some areas that do not have banking services such as the Autonomous Region in Muslim Mindanao,” said Espenilla.

The Philippine financial system as of December 2009 had total resources of P7.954 trillion, up from P7.412 trillion in 2008.

Universal and commercial banks had P5.694 trillion in resources; thrift banks, P556 billion; and rural banks P171 billion

Non-bank financial institutions had total resources P1.532 trillion. Roderick T. dela Cruz, Manila Standard Today

July 2025

Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”

Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.

Accept National Unity Government (NUG)
of Myanmar.  Reject Military!

#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

July


3 July – International Day of Cooperatives
3 Ju
ly – International Plastic Bag Free Day
 
5 July –
World Youth Skills Day 
7 July – Global Forgiveness Day
11 July – World Population Day 
17 July – World Day for
International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons 


Monthly Observances:

Schools Safety Month

Nutrition Month
National Disaster Consciousness Month

Weekly Observances:

Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week

 

Daily Observances:

First Saturday of July:
International Cooperative Day
in the Philippines

Categories

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.