BIS central bankers’ speeches  1  Our strong external position continues to be a source of confidence for our creditors and investors. Another source of strength for the Philippine economy is our sound, stable and liquid banking system as public confidence has kept deposits growing to record-high levels.
Among others, this has sustained double-digit growth rates in lending, particularly to the productive sectors of the economy. Overall, our banks have strong balance sheets, solid asset growth, low NPL ratios and above-standard Capital Adequacy Ratios as a result of good governance practices and adherence to international best practice in risk management.