Monetary intermediation industry dominates the sector
Preliminary results of the 2010 Annual Survey of Philippine Business and Industry (ASPBI) showed that the Philippines had a total of 648 establishments with Total Employment of 20 and over engaged in Financial and Insurance Activities. As shown in Figure 1, Monetary intermediation registered the highest, with 38.7 percent of the total. Other financial service activities, except insurance and pension funding activities, ranked second with 28.5 percent and Insurance, third with 14.7 percent.