Surging Ahead: Philippines’ Retail Deposit Market growing with a Robust CAGR of 7.9% (2017-2022), Fueled by Digitalization and Convenient Banking: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. “The Power of Deposits: Unveiling the 45% Dominance of Retail in the Philippine Banking System” To learn more about this report Download a Free Sample Report Retail deposits are a substantial component, contributing approximately 45% of the total deposit value in the Philippine Banking System. As of 2022, the overall revenue of retail deposit accounts in Philippines was a robust one, covering a market share of 45%. They form a crucial source of funding for banks, allowing them to finance various lending activities. The Philippines government also deposits a considerable portion of its funds in demand deposits, while private corporations tend to favor demand deposits for their banking needs. Non-resident deposits, particularly savings accounts, also contribute significantly to the retail deposit market. Overall, retail deposits play a vital role in the stability and growth of the Philippine banking sector. 2. “Riding the Wave: Philippine Retail Deposit Market Surges at 10% CAGR Driven by Digitalization and Convenience Banking. Visit this Link: – Request For Custom Report Convenience banking, characterized by the availability of debit cards, internet banking, and phone banking, has become a driving force behind the increasing number of users in the banking sector. These convenient banking options have attracted new users, providing them with easy access to financial services. Additionally, the ongoing trend of urbanization, with an urban population growth rate of approximately 2.1% in 2021, has further improved the accessibility of commercial banks for individuals residing in urban areas. This sustained urbanization has created a favorable environment for the growth of banking services, catering to the needs of the urban population. Moreover, the rise of digital rural banks, exemplified by entities like Tonik, has played a significant role in expanding banking services to rural areas. These digital banks, categorized as rural banks, have made inroads into remote regions, contributing to a notable increase in the number of bank accounts in rural communities. All these factors Have contributed to the growth of retail deposit accounts in Philippines. 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