WebClick Tracer

April 12, 2024

Philippine non-bank financial firms’ domestic claims up 17.8% in Q3

Domestic claims of non-bank financial firms in the Philippines rose 17.8 percent year-on-year to P8.82 trillion as of the third quarter of 2023, driven by increased claims on depository firms, the central government, and other sectors, according to the Bangko Sentral ng Pilipinas (BSP).

The Other Financial Corporations Survey (OFCS) revealed specific growth areas, including a 40.7-percent increase in claims on depository corporations (DCs) and a 9.9-percent rise in claims on other sectors, reaching P2.52 trillion and P4.4 trillion, respectively.

Private sector claims, especially in equity shares and household sector loans, led to a 10-percent growth to P4.38 trillion.

Claims on the central government rose 15.1 percent year-on-year to P2.17 trillion.

OFCs’ net foreign assets rose 47.1 percent annually to P369.643 billion as of the third quarter.

Claims on nonresidents increased 19.8 percent to P544.895 billion, while liabilities to nonresidents declined by 13.9 percent to P175.252 billion.

TRENDING SECTIONS