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BSP-Philippine Financial System Sustains Resilience Amid COVID-19 Challenges in the First Half of 2021.

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ENPNewswire-November 4, 2021--BSP-Philippine Financial System Sustains Resilience Amid COVID-19 Challenges in the First Half of 2021

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Release date- 03112021 - ?The Bangko Sentral ng Pilipinas (BSP) released the Report on the Philippine Financial System for the First Semester of 2021.

The Report underscored the sustained resilience of the Philippine financial system amid the COVID-19 pandemic.

The assessment of the strengths and sources of vulnerabilities of the Philippine Banking System (PBS) based on a set of Financial Soundness Indicators (FSIs) suggested that the banking system remained sound and stable even during the health crisis.

BSP Governor Benjamin E. Diokno said, 'In the first semester of 2021, the banking system displayed continued growth in assets and deposits and posted sufficient capital and liquidity buffers. This enabled the banking system to support the country's financing needs.'

'The acceleration of digital transformation reinforced banks' continued delivery of financial products and services during the pandemic,' the...

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