BSP Scores Modest Gains in Financial Inclusion, as Micro-Deposit Level Improves

The Bangko Sentral ng Pilipinas’ (BSP, Philippine central bank) commitment to nurture an environment of financial inclusion has yielded modest results, with the share of adults with a formal account increasing by 4.7 percentage points to 31.3 percent in 2014 from 26.6 percent in 2011. Improvement among lower middle-income countries is at 14 percentage points. Micro-deposits jumped 181 percent to P6.3 billion in end-June from 2012, while the …

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