The Bangko Sentral ng Pilipinas (BSP) vowed to intensify efforts to expand access to financial services after a Social Weather Stations (SWS) survey showed that 58 percent of Filipino adults now have a formal financial account.
The first-quarter 2026 SWS survey showed account ownership among Filipinos aged 18 and above rising from 51 percent recorded in the BSP’s 2025 Consumer Finance and Inclusion Survey.
The increase was seen across geographic areas, income groups, and education levels, indicating broader adoption of formal financial services. Among respondents who still do not have an account, about one in three said another member of their household owns one.
E-money accounts remained a major driver of financial inclusion, with 43 percent of adults saying they own one. Meanwhile, 21 percent reported having a bank account.
For those without any financial account, the top barriers were lack of money, unemployment, and limited knowledge on how to open an account.
The BSP said it will continue implementing financial education initiatives and programs that bring account-opening services closer to communities, including Paleng-QR Ph Plus. The program promotes digital payments in public markets and transport hubs while supporting on-site account registration.
The central bank said the SWS findings complement its 2025 survey, which also showed improvement in Filipinos’ financial literacy.
The survey included BSP rider questions meant to measure public awareness and sentiment on economic and financial issues. The central bank said the results will help sharpen its education and communication programs and assess the impact of key financial inclusion initiatives over time.