The Philippines recorded improvements in financial inclusion in 2025, according to a report by the Bangko Sentral ng Pilipinas (BSP), with more young people and women gaining access to financial accounts.
Data from the Consumer Finance and Inclusion Survey showed that account ownership among Filipinos aged 15 to 19 rose to 34 percent in 2025, up from 27 percent in 2021. Financial accounts include bank accounts, e-wallets, and other transaction accounts.
Women also surpassed men in bank account ownership. In 2025, 25 percent of Filipino women had bank accounts, compared to 22 percent of men. This marks a shift from 2021, when men had higher account ownership.
Borrowing among adults declined significantly, with only 25 percent taking loans in 2025, down from 45 percent in 2021. However, more Filipinos are now borrowing from formal and regulated institutions such as banks. About 16 percent of adults used formal lenders, while 10 percent relied on informal sources, reversing the earlier trend.
Financial literacy improved as well. Around 74 percent of Filipinos answered at least half of financial literacy questions correctly, up from 69 percent in 2021.
The survey also found strong awareness of financial security. About 78 percent of respondents said they avoid sharing personal information online, while 64 percent check if financial institutions are regulated before making transactions.
Despite these gains, overall account ownership among adults fell to 50 percent in 2025 from 56 percent in 2021. This was partly due to fewer loan-linked accounts, especially from microfinance groups and cooperatives.
At the household level, access continued to grow. About 85 percent of households had at least one financial account in 2025, up from 74 percent in 2024, suggesting families are sharing financial access.
Digital financial use also increased, with 62 percent of households using electronic devices for online transactions, compared to 53 percent the previous year.
The BSP said it will continue working with government and private partners under its National Strategy for Financial Inclusion 2022–2028 to expand access, promote digital finance, and improve financial literacy and consumer protection.
