History of steady growth alongside a positive future forecast provides Philippines Retail Deposit Market increasing confidence & interest of stakeholders, says a report by Ken Research
1. NCR: Leading the Way in Deposit Market Penetration Despite Low Population Percentage.
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The National Capital Region (NCR) of the Philippines holds a significant position in the total deposit market, demonstrating remarkable penetration despite being home to only 12.4% of the country’s population. This region, encompassing the capital city Manila and its surrounding areas, showcases a robust presence in the banking sector, attracting a substantial share of deposits. In 2021, account penetration was highest in Mindanao at 67%, overtaking Visayas at 55%. Meanwhile, the lowest recorded percentage was in North and Central Luzon at 47%.
2. Infrastructure: Banks promoting the digital banking scenario while networks being developed by government.
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Infrastructure development has played a crucial role in supporting the growth of the retail deposit market in the Philippines. The government’s focus on enhancing infrastructure, such as improving transportation networks, building new commercial and residential spaces, and expanding access to banking services, has created favorable conditions for the market’s expansion. Improved infrastructure has led to increased economic activity, urbanization, and financial inclusion, which in turn have driven the demand for retail deposit products. As people gain better access to banking services and the convenience of digital banking, the retail deposit market has witnessed significant growth. The development of robust infrastructure has not only improved the overall financial landscape but has also contributed to the stability and growth of the retail deposit market in the Philippines.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
- Risk-Averse Individuals
- Fixed Income Seekers
- Small Business Owners
- Non-Profit Organizations
- Fixed-Time Investors
Time Period Captured in the Report:
- Historical Period: 2016-2022
- Base Year: 2022
- Forecast Period: 2022-2027