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Article: RP banks' total deposits up 14.8% yoy in Q1 '09.
- Article from:
- Philippines News Agency
- Article date:
- July 6, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MANILA, July 6 (PNA) -- Total deposits of the Philippines' banking system expanded by 14.8 percent year-on-year in end-March 2009 after it reached P3.1 trillion against year-ago's P2.7 trillion.
"Savings deposits, which account for almost half of the funding base, registered a meager growth of 1.6 percent from the same period in 2008," said the Bangko Sentral ng Pilipinas (BSP) in its first quarter 2009 Report on Economic and Financial Developments.
BSP noted that time deposits registered a 33.6-percent growth while demand deposits a 19.8-percent growth during the same period.
Relatively, the central bank said in the first three months this ...
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