Philippine thrift banks grew total assets by 6% to $19.5b t in 2024

Lending activities rose by 14.7% during the year.

Philippine thrift banks reported $19.5b (PHP1.1t) in total assets as of end-2024, up 6% from the previous year, according to data from the Chamber of Thrift Banks (CTB) released in July 2025.

Lending activities grew ‘significantly’, according to CTB, with core loan portfolios expanding 14.7% to $13.8b (PHP777.28b).

Deposit liabilities rose by 4.7% to $14.67b (PHP826b).

The sector also maintained a capital base of $3.08b (PHP174b), with a capital adequacy ratio of 17.88%, well above regulatory requirements, the CTB said.

“We are pleased to report that the Chamber of Thrift Banks has continued to demonstrate remarkable growth and adaptability through the years,” said CTB President Mary Jane Perreras.

“Through our quarterly engagements with the BSP’s Bank Supervision Policy Committee, we continue to advocate for regulatory adjustments that reflect the realities of thrift banks, including the proposed lowering of the Minimum Liquidity Ratio from 20% to 16%,” Perreras said.

Perras and CTB shared how many of their member banks have successfully upgraded their digital infrastructure, adopted cybersecurity protocols, and offered digital literacy programs to protect consumers in an increasingly connected financial ecosystem.

Collaborative efforts with fintech firms and low-code platform providers have also enabled thrift banks to roll out customized digital services more efficiently, the CTB said.

Looking ahead, CTB will continue to promote sound risk management, operational excellence, and sustainable growth, Perreras said.

“Our goal is to strengthen the thrift banking sector’s contribution to inclusive economic development, ensuring our members remain key providers of financial access in communities across the country,” she said.

(US$1 = PHP56.31; as of 1 July 2025, Google, From Morningstar)