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Manila Bulletin devider Business devider Banking & Finance devider Bank assets hit record ₱30 trillion as borrowers rush to frontload loans

Bank assets hit record ₱30 trillion as borrowers rush to frontload loans

Published Jul 14, 2026 01:45 pm

At A Glance

  • Total assets of the Philippine banking system climbed to ₱30.44 trillion as of end-May, driven by sustained lending growth as borrowers opted to frontload loans before prices and borrowing costs further surged.
Philippine bank assets surged to a record ₱30.44 trillion at end-May as corporate and retail borrowers rushed to lock in credit before anticipated hikes in global borrowing costs and commodity prices.
According to preliminary data from the Bangko Sentral ng Pilipinas (BSP), combined assets of the nation’s lenders grew 1.1 percent from ₱30.12 trillion in April, extending a broad expansionary trend.
The month-on-month increase builds on a 12 percent year-on-year jump recorded in April, when assets stood at ₱26.89 trillion.
Banks’ assets remain primarily supported by deposits, loans, and investments, including cash, balances due from other banks, interbank loans receivable (IBL), and reverse repurchase (RRP) agreements, net of credit loss provisions.
As of May, the banking sector’s total loan portfolio (inclusive of IBL and RRP) increased to ₱16.95 trillion from ₱16.67 trillion in the previous month. Month on month, this grew by 1.7 percent, continuing the momentum from the 12.3 percent annual increase recorded in April.
Net investments, which include financial assets and equity holdings in subsidiaries, stood at ₱8.64 trillion as of end-May. This figure eased slightly from the ₱8.68 trillion reported at the end of April.
Meanwhile, net real and other properties acquired (ROPA) continued to climb, reaching ₱143.8 billion in May compared to ₱143 billion in the previous month.
Cash and balances due from banks increased to ₱2.21 trillion as of end-May from ₱2.20 trillion in April.
Other assets of the banking industry rose to ₱2.50 trillion in May, up from ₱2.43 trillion the month before.
Meanwhile, the total liabilities of the banking system reached ₱26.85 trillion as of May 2026, a 1.4 percent increase from the ₱26.49 trillion recorded in the previous month.
Deposit liabilities accounted for the bulk, or 83.1 percent, of banks’ liabilities, rising to ₱22.31 trillion as of end-May 2026 from ₱22.06 trillion in the previous month.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said this record level could be attributed to the sustained expansion of banks’ loans and deposits. He said some borrowers frontloaded the borrowings they needed following the United States (US)-Iran war to manage their finances before the further surge in prices and borrowing costs.
Additionally, the continued increase in banks’ earnings added to their capital and resource.
Big banks’ lending growth hit a 15-month high in May at 12.1 percent as lenders continued to see steady credit demand from businesses and households in the second quarter of 2026.
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