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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.
The countries of the Association of Southeast Asian Nations (ASEAN) are a vastly diverse and uneven landscape in terms of infrastructure development. For instance, Singapore is a perennial global leader in infrastructure quality whereas other ...
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In recent years, the Philippines' consumer products and retail sector has experienced rapid growth, which a burgeoning middle class and a youthful population have facilitated. The Philippines' resilient household income growth has been bolstered by ...
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The oil and gas sector powers the economies of a number of countries in ASEAN, playing a key role in meeting the rising energy needs of one of the fastest growing regions of the world. Major oil and gas producers in the region are Indonesia and ...
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In 2023, the global machinery and equipment sector expanded by 7.6%, driven by infrastructure projects and the demand for industrial, construction and agricultural machinery amid pressures from inflation and supply chain constraints. Key trends ...
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The Philippine Banking System (PBS) continues to improve its asset quality and, more importantly, broaden access to banking and financial services to citizens. As universal and commercial banks forward the call for financial inclusion, the central ...
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The Food and Beverage (F&B) sector accounted for more than half of the manufacturing sector's GVA at 57.9% in 2023, and its share of GDP stood at 9.4%, reflecting its importance to the Philippine economy. With the rise in population and increase ...
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The agribusiness sector plays an important role in the Philippines' economy, accounting for 9.4% of GDP in 2023 and 22.2% of employment in October 2023. The Philippines occupies leading positions in the global production of rice, pork, coconuts and ...
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