The BSP believes that financial digitization will ensure the resurgence of businesses and boost economic growth as digitalization makes payments easier and quicker and helps improve working capital efficiency. Digitalization also accelerates financial inclusion to those unserved and underserved by traditional bank offices. The Philippine banking system remains sound and stable.
The banking system consistently posted capital adequacy ratios (CAR) at about 15.0 percent in the past 10 years, which is well above the 10.0 percent minimum threshold set by the BSP, and 10 percent international threshold set by the Bank for International Settlements (BIS).