BSP survey finds gains in youth, women’s finance

The Philippines posted gains in financial inclusion in 2025, with more teenagers owning financial accounts, more women holding bank accounts than men, more borrowers turning to formal lenders, and more Filipinos showing improved financial literacy, according to the Bangko Sentral ng Pilipinas’ 2025 Consumer Finance and Inclusion Survey.

The BSP said account ownership among young people ages 15 to 19 rose to 34% in 2025 from 27% in 2021, reflecting broader access to bank accounts, e-wallets, and other transaction accounts.

The survey also showed bank account ownership among Filipino women increased to 25% in 2025 from 20% in 2021.

Women now outpace men in bank account ownership, with men’s share falling to 22% in 2025 from 26% in 2021.

The report found that fewer Filipino adults were borrowing overall, with 25% reporting loans in 2025, down from 45% in 2021.

Still, borrowing patterns improved, with 16% of adults borrowing from formal channels such as banks in 2025, while 10% relied on informal lenders.

This reversed the 2021 pattern, when informal borrowing was more common than formal borrowing.

Financial literacy also improved, with 74% of Filipinos correctly answering at least half of financial literacy questions in 2025, up from 69% in 2021.

The survey also found strong financial security awareness, with around 78% of Filipinos saying they avoid sharing personal information online.

It also found that 64% verify whether a financial institution is regulated before transacting.

The BSP noted that financial security awareness was a new question in the 2025 survey, so no earlier comparison was available.

Despite those gains, account ownership among adults declined to 50% in 2025 from 56% in 2021.

The BSP said the drop was partly driven by a decline in transaction accounts linked to loans, particularly from microfinance institutions and cooperatives.

That trend was consistent with the lower incidence of borrowing from those institutions.

At the household level, however, financial access continued to expand.

Data from the BSP’s Consumer Expectations Survey showed that 85% of households had at least one account in 2025, up from 74% in 2024.

The BSP said this suggests many families rely on shared financial access rather than individual account ownership.

Digital finance also continued to rise, with 62% of households using electronic devices for online financial transactions in 2025, up from 53% the previous year.

The survey results come as the BSP continues to push financial inclusion through the National Strategy for Financial Inclusion 2022–2028.

The central bank said it is working with government, the private sector, and development partners to broaden access to financial services.

These efforts promote digitalization, financial literacy, consumer protection, and trust in the formal financial system.

The BSP said those measures are aimed at improving the financial health of all Filipinos.