Philippine account ownership sinks as microfinance access weakens

E-money wallets stayed at 36% whilst bank access held at 23%.

Formal financial account ownership amongst Filipino adults fell to 50% in 2025 from 56% in 2021.

Ownership of e-money accounts and bank accounts remained stable at 36% and 23%, respectively, data from the Bangko Sentral ng Pilipinas’ 2025 Consumer Finance and Inclusion survey showed.

The decline was mainly seen in loan-linked accounts held through microfinance non-government organisations and cooperatives.

Loan activity in these institutions also fell. Loans from microfinance NGOs dropped to 6% in 2025 from 10% in 2021, whilst loans from cooperatives declined to 1% from 4% over the same period.

Women have now overtaken men in ownership of more advanced financial accounts, including bank accounts. 

Filipino women have recorded higher account ownership than men since 2017, supported by microfinance NGOs and, more recently, the wider use of e-money wallets and bank accounts.

However, gaps remain across income, education and location. Adults with higher incomes and better education are more likely to own formal accounts.

Account ownership is also higher in more urbanised regions than in mainly rural areas.

At the household level, access remains wider. Data from the rider question to the Consumer Expectations Survey showed that 85% of households had at least one formal financial account.