•  The banking system sustained its asset expansion with total resources growing by 9.8% to reach P5.6 trillion as of end-November 2008. Among bank assets, loans (gross, and exclusive of interbank loans) posted a significant growth of 23.5%. This asset expansion was supported by a continued rise in deposit base which registered a 15.9% growth as of end November 2008.
•  Worth noting is that this continued asset expansion has been accompanied by the steady improvement in asset quality as measured by both non-performing loans and non-performing assets.