Commitment to Financial Stability 1/4  BIS central bankers' speeches  Coming to the BSP’s mandate of promoting financial stability, our friends from the industry know that the strong banking system we have proudly nurtured is a product of decades of hard work, commitment to reforms, and decisiveness. Total assets of the banking system increased by 12.2 percent year-on-year (YoY) as of end-May 2018.
The expansion was funded by the 12.5 percent growth in deposits mostly deployed to lending activities. Loans were broad-based across various borrower and industry types. The banking system is healthy and profitable. Overall profitability is buoyed by the increase in core income from lending activities. With staunch commitment and consistent dedication, capitalization of the overall banking system is now above the regulatory thresholds.