Bank assets increase by 12%

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MANILA — Local banks recorded a new peak in the increase of assets for 2014 highlighting the industry’s strength, according to a data from the Bangko Sentral ng Pilipinas.

Banking system’s asset accounts rise to 12 % to P11.16 trillion in 2014 from P9.97 trillion in 2013.

BSP said that the figure indicates an all-time high for the banks’ asset base.

A 19 percent rise in the banks’ total loan portfolio to P5.

83 trillion last year from P4.9 trillion in 2013 has driven the increase, according to BSP.

Meanwhile, liabilities of banks also went up to 12 percent P8.52 trillion last year from P7.61 trillion in 2013 while capital accounts grew 21 percent to P1.37 trillion last year from P1.13 trillion in 2013.