Financial Intermediation sustains growth
Financial intermediation expanded by 9.2 percent in the second quarter of 2019 from the 7.6 percent growth in the same period of 2018. Most contributions to growth were from Banking Institutions and Non-Bank Financial Intermediation which recorded 13.0 percent and 7.2 percent growth, respectively.
Meanwhile, Activities Auxiliary to Financial Intermediation slightly slowed down to 8.4 percent from 8.8 percent in the previous year. On the other hand, Insurance posted 4.0 percent growth in the quarter from 1.7 percent in the same period of the previous year.