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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Over the past decade, the consumer goods and retail sector in the Philippines showed excellent performance that was generally the result of the decent economic growth rate. ?Growth in the county has been underpinned by the economic ...
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The Philippines’ tourism sector has been the focus of President Rodrigo Duterte’s Government as one of the key sectors of economic development. Government intentions are visible in various tourism development plans ...
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The Philippines has an inter-modal transportation system and the transportation sector accounted for 3.9% of national GDP in 2019. The main sector performance indicators showed y/y growth in 2019, with the exception ...
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The Philippine insurance sector is composed of life, general or non-life, and reinsurance subsectors – with the life insurance subsector representing a significant portion of the insurance market. Growth in the sector has ...
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The Asian region is home to some of the world’s biggest automotive brands, which has eventually resulted in the birth of local brands in some of the countries. The Asian countries featured in this report – China, India, Thailand ...
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The Philippines is primarily an agrarian country, with about 22% of its population engaged in farming. In 2019, the agriculture, forestry and fishing (AFF) sector contributed 8.8% to national GDP, according to data from the Philippine Statistics ...
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Healthcare remains in inadequate supply throughout most of the SEA region. The shortage is especially evident in healthcare human resources; for instance, apart from Malaysia and China, all the countries in the SEA region have fewer than 1 physician ...
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The Philippine banking sector has consistently achieved growth in recent years, following the growth of the Philippine economy. Being at the core of the country’s financial system, it is expected to grow on the same trajectory as the economy. ...
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The mobile telephony subsector is set to undergo a big change, as the current duopoly of PLDT Inc and Globe Telecom Inc will be challenged by the entry of a third player, DITO Telecommunity Corp. On the back of this development, this subsector has ...
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