Banking & Insurance

The Bangko Sentral ng Pilipinas (BSP) reported that the country’s gross international reserves (GIR) stood at $97.4 billion as of end-October 2026. This dip in foreign currency reserves was primarily driven by the central bank’s active foreign exchange interventions, downward adjustments in the value of gold assets amid shifting global prices, and the national government withdrawing funds from its central bank deposits to cover foreign debt service obligations alongside other international funding needs.

The Philippine banking sector maintained its solid footing through the first half of 2026, keeping the country’s economic engine running by ensuring a steady flow of money to everyday consumers and growing businesses.

Opening a bank account just got easier for millions of Filipinos, as Salmon Bank now lets customers complete their application by simply scanning their National ID QR code and doing a quick liveness check—no need to present or upload physical identification documents at all.

Metropolitan Bank & Trust Co. (Metrobank) grew its net income to P36.3 billion in the first nine months of 2026, as a 13-percent expansion in loans, improving lending margins, and stronger fee income sustained earnings growth despite an uncertain economic environment.

China Banking Corp. (China Bank) grew its nine-month net income by 12 percent to P22.6 billion in 2026, as stronger lending activity and wider interest margins boosted core banking revenues while asset quality remained stable.