Tacloban: Bank deposits in Eastern Visayas increased by 5.13 percent to PHP202.44 billion in 2025 despite a slowdown in spending during the latter part of the year, which officials partly attributed to reduced infrastructure activity following the flood control controversy.
According to Philippines News Agency, data from the Philippine Deposit Insurance Corporation (PDIC) showed that deposit liabilities in the region rose by PHP9.88 billion from PHP192.56 billion in 2024. Deposit liabilities refer to funds placed by individuals and corporations in banks for safekeeping.
BSP Tacloban Branch Area Director Victorio III Tingcang said the region experienced slower deposit growth in 2025 compared with previous years, although the overall amount remained higher than the previous year's level. "Towards the second half of the year, the flow of money slowed down due to reduced construction activities, possibly because of the flood control scandal," Tingcang told reporters.
In 2024, bank deposits grew by 7.14 percent to PHP177.47 billion from PHP165.64 billion in 2023, driven largely by increased government spending on infrastructure projects and the continued expansion of e-commerce.
PDIC banking statistics showed that the number of deposit accounts increased by 8.82 percent, from 1.58 million in 2024 to 1.72 million in 2025. The number of banking offices also rose to 330 in 2025 from 303 in 2024.
"Access to financial services improved, with bank density increasing to 2.3, equivalent to about two to three banks per city or municipality," Tingcang added. The BSP cited the growth of e-commerce and electronic banking as key contributors to the rise in accounts, as more consumers embraced faster and more efficient banking services.
Tingcang noted that the expansion of existing banks and the establishment of new branches facilitated fund transfers and encouraged businesses to expand beyond major commercial centers.
Of the region's PHP202.44-billion deposit portfolio, Leyte accounted for the largest share at PHP123.21 billion, followed by Samar with PHP21.96 billion, Southern Leyte with PHP21.36 billion, Eastern Samar with PHP16.07 billion, Northern Samar with PHP14.61 billion, and Biliran with PHP5.2 billion.
The strong growth in Leyte was largely driven by Tacloban City, where 51 banks are operating. Deposits in Tacloban reached PHP74.4 billion in 2025, up from PHP69.03 billion in 2024, while deposit accounts increased to 484,023 from 433,477.
