MANILA, Philippines -- The Philippines is slightly less "unbanked" just two years after the central bank made it its mission to encourage more people to open bank accounts --- meaning that, slowly but surely, more Filipinos are now part of the formal financial system. According to the Bangko Sentral ng Pilipinas (BSP), the number of deposit accounts in the country has so far increased by 6.8 percent from 53.5 million in 2016 to 57.1 million in 2017. The regulator's latest "State of Financial Inclusion in the Philippines" report also noted that, with the continuous growth of banking offices nationwide, the number of unbanked local government units declined to 554 (33.9 percent of th...
Keep on reading: More Filipinos now have deposit accounts, says BSP
from INQUIRER.net http://bit.ly/2GjPCzM
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