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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, aಞnd collection and credit agencies.
The Philippine insurance sector is composed of life, general or non-life, and reinsurance subsectors – with the lඣife insurance subsector representing a significant portion of the insurance market. Growth in the sector has ...
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The Asian region is home to some of the world’s biggest automotive brands, which has eventually resulted in the birth of local brands ✱in some of the 💫countries. The Asian countries featured in this report – China, India, Thailand ...
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Tꦑhe Philippines is primarily an agrarian country, with about 22% of its population engaged in farming. In 2019, the agriculture, forestry and fishing (AFF) sector contributed 8.8% to national GDꦬP, according to data from the Philippine Statistics ...
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Health♉care remains in inadequate supply throughout mos🧸t of the SEA region. The shortage is especially evident in healthcare human resources; for instance, apart from Malaysia and China, all the countries in the SEA region have fewer than 1 physician ...
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The💝 Philippine banking sector has consistently achieved growth in recent years, following the growth of the Philippine economy. Being at the core of the country&rsquo♈;s financial system, it is expected to grow on the same trajectory as the economy. ...
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The mobile telephony subsector is set to undergo a big change, as the current duopoly of PLDT Inc and൩ Globe Telecom Inc will be challenged by the entry𝓰 of a third player, DITO Telecommunity Corp. On the back of this development, this subsector has ...
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The Philippines’ pharmaceuticals and healthcare sector is experiencing accelerating growth. The country’s strong economic performance over recent years and the government’♏s interventions to increase healthcare access are bringing ...
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Economic growt🍃h in the Philippines over🥂 the past few years has been strong as a result of rising remittances from overseas Filipino workers (“OFWs”) and a rising availability of comparatively high paying jobs from the business process ...
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The Philippines is primarily an agrarian country, with about 23% of its population engaged in farming. In 2018, ꦏthe agriculture sector alone contributed 8% to national 🌱GDP – 9.3% if we include forestry and fishing – according to data from ...
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