Latest data indicate that there are more than 200 banks providing microfinance services to 630,000 micro-borrowers with total loan portfolio of P3.7 billion. The average is P11,600 per borrower, more than double the 2006 figure of about P5,000 for each borrower. Let us thank these banks for their support through another round of applause!
Market reforms continued to take root in 2006 including the development of market infrastructure. Among others, we saw the full implementation of the third-party custodian system and the fixed income exchange.