BSP survey shows gains in youth and women's financial access, formal lending, financial literacy

The Philippines has registered gains in financial inclusion, notably with a jump in young adults owning financial accounts and with women exceeding men in bank account ownership, according to a Bangko Sentral ng Pilipinas (BSP) report.

Account ownership among young adults aged 15 to 19 rose to 34 percent in 2025 from 27 percent in 2021, according to the 2025 Consumer Finance and Inclusion Survey (CFIS). Financial accounts include bank, e-wallet, and other types of transaction accounts.
 
Bank account ownership among Filipino women increased to 25 percent in 2025 from 20 percent in 2021. Women now report higher bank account ownership than men, whose share stood at 22 percent compared with 26 percent in 2021.
 
While fewer Filipino adults are borrowing, at 25 percent in 2025 from 45 percent in 2021, the source of borrowing shifted from informal lending sources to safer and more regulated formal loans. In 2025, 16 percent of the total adult population borrow from formal channels such as banks, while only 10 percent relied on informal lenders. This marks a reversal from 2021, when informal borrowing was more common. 
 
Financial literacy also improved. In 2025, 74 percent of Filipinos correctly answered at least half of financial literacy questions, up from 69 percent in 2021. 
 
Filipinos also demonstrate strong financial security awareness. Around 78 percent avoid sharing personal information online, while 64 percent verify if financial institutions are regulated before transacting. This was a new question in the 2025 survey, with no previous data.
 
Meanwhile, the CFIS showed that account ownership among adults declined to 50 percent in 2025 from 56 percent in 2021. This was partly driven by a decrease in transaction accounts linked to loans, particularly from microfinance institutions and cooperatives. This trend was consistent with the lower incidence of borrowing from these institutions.
 
At the household level, account ownership continued to expand. Data from the BSP’s Consumer Expectations Survey (CES) show that 85 percent of households had at least one account in 2025, up from 74 percent in 2024.[2] This suggests that many families rely on shared financial access rather than individual account ownership.
 
Digital finance is also on the rise. In 2025, 62 percent of households used electronic devices for online financial transactions, higher than 53 percent the previous year, according to the CES.
 
The BSP continues to work with government, private sector, and development partners under the National Strategy for Financial Inclusion 2022 to 2028 to broaden access to financial services. 
 
These efforts promote digitalization, financial literacy, consumer protection, and trust in the formal financial system, helping improve the financial health of all Filipinos.
 
Access the 2025 CFIS Report here: 
https://www.bsp.gov.ph/Inclusive%20Finance/Financial%20Inclusion%20Reports%20and%20Publications/2025/2025CFISreport.pdf