The Bangko Sentral ng Pilipinas (BSP) recently released the “State of Financial Inclusion in the Philippines” report which revealed that the number of deposit accounts in the country has increased by 6.8 percent to 57.1 million in 2017 from 53.5 million in 2016.
The report also noted that the BSP’s effort to grow banking offices nationwide resulted in an increased number of consumers becoming part of the formal financial system. This only shows that more and more Filipinos now are inclined to savings.
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, through its “Good to Know!” campaign, shares a few benefits of owning a deposit account:
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