Let me take a look at developments in the banking sector. True enough, the numbers speak for themselves. Bank deposits, for instance, sustained their growth both in value and number of accounts. As of June this year, the industry posted outstanding deposits of Php 7.9 trillion after growing annually by about 13 percent for five years.
Supporting the view of inclusiveness, data from the BSP indicate that there are about 47 million deposit accounts held by 38.4 million accountholders in June 2014. This is a considerable increase from the 40.1 million accounts in the name of 31.1 million depositors that was recorded as late as March 2012.