Accelerating Growth: Philippines Retail Deposit Market Set to Soar at 11.5% by 2027 Fueled by Infrastructure Developments such as improving transportation networks and Rising NCR Demand: Ken Research

History of steady growth alongside a positive future forecast provides Philippines Retail Deposit Market increasing confidence & interest of stakeholders, says a report by Ken Research

1. NCR: Leading the Way in Deposit Market Penetration Despite Low Population Percentage.

The National Capital Region (NCR) of the Philippines holds a significant position in the total deposit market, demonstrating remarkable penetration despite being home to only 12.4% of the country's population. This region, encompassing the capital city Manila and its surrounding areas, showcases a robust presence in the banking sector, attracting a substantial share of deposits. In 2021, account penetration was highest in Mindanao at 67%, overtaking Visayas at 55%. Meanwhile, the lowest recorded percentage was in North and Central Luzon at 47%.

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2. Infrastructure: Banks promoting the digital banking scenario while networks being developed by government.

Infrastructure development has played a crucial role in supporting the growth of the retail deposit market in the Philippines. The government's focus on enhancing infrastructure, such as improving transportation networks, building new commercial and residential spaces, and expanding access to banking services, has created favorable conditions for the market's expansion. Improved infrastructure has led to increased economic activity, urbanization, and financial inclusion, which in turn have driven the demand for retail deposit products. As people gain better access to banking services and the convenience of digital banking, the retail deposit market has witnessed significant growth. The development of robust infrastructure has not only improved the overall financial landscape but has also contributed to the stability and growth of the retail deposit market in the Philippines.

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Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report:

Investors
Risk-Averse Individuals
Fixed Income Seekers
Small Business Owners
Non-Profit Organizations
Fixed-Time Investors

Time Period Captured in the Report:

Historical Period: 2016-2022
Base Year: 2022
Forecast Period: 2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: -

https://www.kenresearch.com/industry-reports/philippines-retail-deposit-market

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.