According to Bangko Sentral ng Pilipinas (BSP) the central bank of the Philippines, 198 banks in the Philippines have lent PHP 7.15 billion (USD 165 million) to 963,717 microborrowers during the year ending June 2011. Among these 198 lenders are 148 rural banks, 21 cooperative banks and 20 thrift banks engaged in microfinance. The US-based nonprofit Microfinance Information Exchange lists 93 microlenders in the Philippines with aggregate loans outstanding of USD 632 million.
About Bangko Sentral ng Pilipinas (BSP)
Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. Established under the provisions of the New Central Bank Act of 1993, BSP is headquartered in Manila and has three regional offices performing cash operations and eighteen branch offices. BSP participates in various advocacy programs concerning microfinance, financial education and consumer protection.
By Ariana Malushi, Research Associate
Sources and additional resources:
Business Mirror: “198 banks lent out P7.15B to micro borrowers by end-June 2011”? http://businessmirror.com.ph/home/banking-a-finance/22059-198-banks-lent-out-p715b-to-micro-borrowers-by-end-june-2011
MicroCapital.Org story, January 10, 2012, “MICROCAPITAL BRIEF: Philippine Central Bank, Bangko Sentral ng Pilipinas (BSP), Issues Microinsurance Licenses to Bangko Mabuhay, Mallig Plains Rural Bank”? https://www.microcapital.org/microcapital-brief-philippine-central-bank-bangko-sentral-ng-pilipinas-bsp-issues-microinsurance-licenses-to-bangko-mabuhay-mallig-plains-rural-bank/
MicroCapital.Org story, November 7, 2011, “MICROCAPITAL BRIEF: Bangko Sentral ng Pilipinas: Filipino Microfinance Borrowing Increases to $170m”? https://www.microcapital.org/microcapital-brief-bangko-sentral-ng-pilipinas-filipino-microfinance-borrowing-increases-to-170m/
MicroCapital Universe Profile: Bangko Sentral ng Pilipinas (BSP)? https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bangko+Sentral+ng+Pilipinas+%28BSP%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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