Philippine banking system

The Philippine banking system consists of licensed banks that provide financial services such as savings, loans, and payments to individuals and businesses. Supervised by the Bangko Sentral ng Pilipinas (BSP), these banks ensure financial stability, compliance, and consumer protection. The system includes commercial banks, thrift banks, rural banks, and specialized financial institutions, all playing vital roles in supporting economic growth. Banks operate through branches and digital platforms, making financial services accessible. Overall, the system facilitates money management, investment, and economic development within the country.