Formal account ownership rate Philippines 2021, by area

Published by
Christy Balita,
Jan 13, 2023
According to a survey on financial inclusion in the Philippines in 2021, respondents in Mindanao accounted for the highest share of respondents with a formal account from a financial provider accounting for 67 percent. Meanwhile, respondents in Visayas, National Capital Region (NCR), and South Luzon had a formal ownership rate of over 50 percent. Overall, around 56 percent of the total population in the Philippines currently have an account held in formal institutions such as banks, e-money issuers, cooperatives, and microfinance institutions.

Share of Filipinos with a formal account from a financial provider in 2021, by area

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Source

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Release date

August 2022

Region

Philippines

Survey time period

January 13 to February 9, 2022

Number of respondents

1,200 respondents

Age group

15 years old and above

Special properties

among female and male users and non-users of financial products and services

Method of interview

Computer-assisted personal interviews (CAPI)

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