Loans granted by universal and commercial banks Philippines 2024, by loan type
As of January 2024, the value of outstanding credit card loans granted by universal and commercial banks in the Philippines reached roughly 728 billion Philippine pesos. Meanwhile, salary-based general purposed consumption loans reached about 129 billion Philippine pesos as of this period.
Bank account ownership in the Philippines
Based on Statista estimates, the credit card penetration rate in the Philippines has gradually increased since 2018. However, this accounts for only a minimal share of the population, as the country remains to have one of the lowest banked population share in the entire Asia-Pacific region. Among the population with a formal account from a financial provider, a larger share of the population has an e-money account than a bank account.
Leading universal and commercial banks
Universal and commercial banks offer vast financial services, including deposit and checking services, investment and mutual funds, and housing loans, among others. These types of banks also had the highest bank footprint in the Philippines, which was higher than thrift banks and rural and cooperative banks combined. As of the fourth quarter of 2023, BDO Unibank Inc (BDO) emerged as the largest universal bank in the Philippines based on the value of deposits.
