Philippine Thrift Banks Show Strong Growth in 2024
Philippine thrift banks experienced significant growth in 2024, with their total assets reaching $19.5 billion (PHP1.1 trillion), a 6% increase from the previous year. This data, released by the Chamber of Thrift Banks (CTB) in July 2025, highlights a robust performance across the sector.
A major driver of this growth was their lending activities, with core loan portfolios expanding by 14.7% to $13.8 billion (PHP777.28 billion). Deposit liabilities also saw a healthy rise of 4.7%, reaching $14.67 billion (PHP826 billion). The CTB noted the sector’s strong financial health, maintaining a capital base of $3.08 billion (PHP174 billion) and a capital adequacy ratio of 17.88%, comfortably exceeding regulatory requirements.
CTB President Mary Jane Perreras expressed satisfaction with the continued growth and adaptability of the thrift banking sector. She highlighted ongoing efforts to advocate for regulatory adjustments, such as a proposed reduction in the Minimum Liquidity Ratio from 20% to 16%, through regular engagements with the Bangko Sentral ng Pilipinas (BSP).
Perreras also emphasized the industry’s commitment to digital transformation. Many member banks have successfully upgraded their digital infrastructure, implemented robust cybersecurity measures, and provided digital literacy programs to protect consumers. Collaborations with fintech firms and low-code platform providers have enabled thrift banks to efficiently introduce customized digital services.
Looking forward, the CTB plans to continue promoting sound risk management, operational excellence, and sustainable growth. Their ultimate goal is to enhance the thrift banking sector’s role in fostering inclusive economic development and ensuring their members remain vital providers of financial access within communities throughout the Philippines.
