Financial Intermediation speeds up
Financial Intermediation accelerated in the first quarter of 2018, posting a
7.6 percent growth. This is higher than the 7.0 percent growth recorded in the previous year. The performance was driven by Banking and Non-Banking Financial Institutions which grew by 8.3 percent and 8.9 percent, respectively. On the other hand, Insurance slowed down to 4.4 percent growth from the 6.1 percent growth in the previous year. Likewise, Activities Auxiliary to Financial Intermediation expanded to 4.4 percent during the period.