THE Bangko Sentral ng Pilipinas (BSP) announced that the country’s local banks remain optimistic as far as the projections in the growth for the assets, loans, and deposits is concerned.

BSP deputy governor Chuchi Fonacier noted that based on the latest banking sector outlook survey, the banks remain optimistic of an improved loan quality, as well as high loan loss provisioning in 2024.

"Moreover, respondent banks indicated their intention to maintain capital and liquidity buffers at levels higher than domestic and global standards to promote institutional stability," she said.

Meanwhile, Fonacier said that the Philippine banking system is sound and stable.

This is evidenced by the robust growth in assets, loans, deposits, and earnings, as well as strong key financial indicators.

Fonacier added that the BSP will launch several initiatives to further advance the institutional stability and financial sector resilience agenda.

Currently, the BSP is preparing the National Risk Assessment on Money Laundering/Terrorist Financing.

The final report is expected to be released in 2025.

"When I mention about thematic review, we focus on a particular area of operation of a bank, and that will be reviewed. That's the main focus for the on-site visit when I say thematic review," she said.