Banks’ end-Feb total assets up 8.3% to ₧29.2T By Reine Juvierre S. Alberto
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IRAN ATTACKS CONTAINER SHIP IN STRAIT OF HORMUZ, COMPLICATING DIPLOMATIC EFFORTS TO RESUME TALKS
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HE Philippine banking system remains liquid, stable and growing as its total assets rose to P29.196 trillion as of the end of February, data from the Bangko Sentral ng Pilipinas (BSP) showed. The P29.196 trillion end-February figure is up by 8.32 percent from P26.952 trillion in the same period last year. Compared to the previous month, bank assets marginally increased by 0.29 percent from P29.111 trillion.
“The rise in banking sector assets reflects healthy, disciplined growth,” Jonathan A. Ravelas, senior adviser at Reyes Tacandong & Co., said. “Loans are expanding alongside steady economic activity, while banks are also increasing investments in government securities to manage liquidity amid still‑elevated interest rates.” Net total loan portfolio (TLP) of banks grew 9.53 percent year-onyear to P16.083 trillion as of endFebruary from P14.683 trillion. Moreover, net total investments of banks also increased by 12.74 percent year-on-year to P8.747 trillion as of end-February 2026
from P7.758 trillion. The net real and other properties acquired (ROPA) likewise climbed by 20.48 percent to P140.339 billion as of end-February from P116.478 billion in the same period last year. Banks’ other assets also jumped by 10.61 percent year-on-year to P2.237 trillion from P2.022 trillion in end-February 2025.
Liabilities up
MEANWHILE, total liabilities of the Philippine banking system grew at a similar pace to bank assets. Liabilities jumped by 8.34 percent year-on-year to P25.503
trillion as of end-February from P23.539 trillion. This also posted a 0.43-percent increase from the previous month’s P25.394 trillion. Deposit liabilities amounted to P21.524 trillion, of which P17.776 trillion consisted of peso liabilities and P3.748 trillion of foreign-currency liabilities. Liabilities due to banks declined by 9.50 percent year-on-year to P152.097 billion as of end-February from P168.079 billion. Banks’ unsecured subordinated debt also dropped by 67.38 percent to P2.651 billion from P8.129 billion as of end-February last year. See “Assets,” A2
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BSP URGED TO TIGHTEN RATE AS SHOCKS DEEPEN www.businessmirror.com.ph
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Thursday, April 23, 2026 Vol. 21 No. 191
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Reine Juvierre S. Alberto
HE Bangko Sentral ng Pilipinas (BSP) should tighten the key policy rate to fulfill its mandate of keeping prices stable as shocks from geopolitical tensions in the Middle East become embedded in the price system, according to an economist. In a commentary, economist and former BSP Deputy Governor Diwa C. Guinigundo said that inflationary pressures are “broadening, deepening, and becoming
more persistent.” “We therefore believe that the BSP will initiate tightening monetary policy in tomorrow’s [April 23] See “Rate,” A2
PHL SCIENTISTS FEEL PINCH FROM ENERGY, FUEL CRISIS By John Eiron R. Francisco
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HILIPPINE scientists are also grappling with the effects of ongoing power and fuel supply pressures, as rising costs continue to strain research budgets and increase the expense of conducting scientific studies. Dr. Rachel June Ravago-Gotanco, professor at the Marine Science Institute of the University of the Philippines Diliman, said the situation has directly increased research expenses, particularly for field-based
DR. Rachel June Ravago-Gotanco
work. Drawing from her personal experience, she said activities such as field visits and data See “Crisis,” A2
A TERN FOR THE BETTER Whiskered terns (Chlidonias hybrida) glide over the waters of the Parañaque Fish Port, using the busy coastal hub as a brief but crucial stopover along their migratory route. Typically inhabiting freshwater marshes and rice paddies, these agile birds travel thousands of kilometers to escape the northern winter, with some finding refuge even in heavily urbanized areas. In observance of Earth Day 2026, their presence highlights the resilience of wildlife—and the growing need to protect biodiversity amid rapid urban expansion. As indicators of ecosystem health, migratory birds like these underscore how even industrial zones remain part of an interconnected global habitat. NONIE REYES
Crisis stalls ₧33-B farm-to-market road bids By Ada Pelonia
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FROM CHAOS TO AYOS Metropolitan Manila Development Authority (MMDA) Chairman Atty. Don Artes, Malabon City Mayor Jeannie Sandoval, and other local officials, together with “Yes to Ayos” mascot Lola Daisyplina, lead the soft launch of the “Yes to Ayos” campaign on Wednesday, April 22, 2026 at Potrero Elementary School in Malabon City. The initiative promotes civic discipline and responsible behavior in public spaces, aligning with President Ferdinand Marcos Jr.’s directive to strengthen government programs that foster a culture of discipline among Filipinos. The campaign targets everyday social practices to improve order, safety, and community cooperation across Metro Manila. NONOY LACZA
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HE construction of the P33billion farm-to-market road (FMR) projects for 2026, slated to begin this April, has been stalled due to the ongoing global oil crisis, according to the Department of Agriculture (DA). Agriculture Undersecretary Arrey Perez said 1,605 FMR projects covering more than 2,000 kilometers earmarked in this year’s budget are yet to be bid out, as the current oil price swing hinders them from deriving a per-kilometer cost. “Our challenge right now is that due to the rising oil prices, we cannot finalize the costing per kilometer of our roads,” Perez told report-
ers on Tuesday. He added that they are closely coordinating with the Department of Public Works and Highways (DPWH) to standardize the cost of FMR per kilometer. “We are currently at the stage where we are adjusting the parameters so that we can proceed with the bidding,” Perez said. Despite this, the DA official expects construction to likely start by May, noting that projects remain on target despite the delay due to the budget’s two-year validity. “By May, we will start the procurement for all these bids. But the implementation of the existing FMRs by government agencies is ongoing,” he said. Prior to the Middle East war—
triggered by the February 28 air strikes by the United States and Israel on Iran that prompted disruptions in the Strait of Hormuz, a global chokepoint for oil trade— the DA said per-kilometer funding had stood at P14 million. The DA has assumed the development and implementation of FMR projects following the controversial infrastructure projects by the DPWH. To tighten oversight on agricultural infrastructure, the DA launched the FMR Watch, a transparency and monitoring portal by the Bureau of Agricultural and Fisheries Engineering (BAFE). The platform allows the public to track projects from proposal to completion by integrating official
records with budget data, construction milestones, geotagged photos, and citizen feedback. On the website, the FMR Watch has tracked 4,810 projects between 2021 and 2025. These have a combined investment of P76.52 billion, covering nearly 2,400 kilometers of roads nationwide. Of these, 3,135 projects have been completed. Last month, the agency secured a €350-million loan from France to bankroll the construction of bridges for FMR projects, which are critical in improving a road’s efficiency. The agency is banking on the construction of these FMRs to lower production costs, raise farmers’ incomes, reduce food prices, and support long-term rural development.
PESO EXCHANGE RATES n US 59.9510 n JAPAN 0.3761 n UK 80.9758 n HK 7.6560 n CHINA 8.7756 n SINGAPORE 47.0795 n AUSTRALIA 42.8590 n EU 70.3945 n KOREA 0.0403 n SAUDI ARABIA 15.9852 Source: BSP (April 22, 2026)