Formal & Mobile Money Savings Statistics in Philippines (2026)
23.9% of adults in the Philippines saved at a formal financial institution or using a mobile money account in 2024, World Bank Global Findex data show. Up from 20.8% in 2021 to 23.9% in 2024 (+3.1 percentage points). Philippines ranks #13 of 16 economies in East Asia & Pacific on this measure, and #90 of 142 globally.
Key Statistics
- Latest value (2024)
- 23.9% (2024)
- Formal & Mobile Money Savings in the Philippines as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- +3.1 pp (2024)
- Up from 20.8% in 2021 to 23.9% in 2024 (+3.1 percentage points).
- Earliest value in this dataset (2011)
- 14.7% (2011)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 14.7% in 2011 to 23.9% in 2024.
- Record high (2024)
- 23.9% (2024)
- The 2024 value is the highest in the available World Bank Global Findex series for the Philippines.
- Rank in East Asia & Pacific
- #13 of 16 (2024)
- The Philippines ranks 13 of 16 countries in East Asia & Pacific with data, based on each country's latest value.
- Global rank
- #90 of 142 (2024)
- The Philippines ranks 90 of 142 countries with data globally.
- East Asia & Pacific average
- 45.4% (2024)
- The Philippines (23.9%) is below the average of 45.4% across the 16 countries in East Asia & Pacific with data.
- Saved at a bank or similar financial institution (% age 15+) (2024)
- 10.3% (2024)
- Related indicator from World Bank Global Findex.
- Internet use in the Philippines (2024)
- 67.3% (2024)
- 67.3% of the population in the Philippines used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 115.8 million (2024)
- The Philippines had a population of 115.8 million in 2024 (World Bank); shown for scale only.
Trend, 2011–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 23.9% | +3.1 pp |
| 2021 | 20.8% | +8.8 pp |
| 2017 | 11.9% | −2.9 pp |
| 2014 | 14.8% | +0.1 pp |
| 2011 | 14.7% | — |
Frequently asked questions
What share of adults in the Philippines saved at a formal financial institution or using a mobile money account?
23.9% of adults in the Philippines saved at a formal financial institution or using a mobile money account in 2024, according to World Bank Global Findex data.
Where does the formal & mobile money savings data for the Philippines come from?
The data comes from the World Bank Global Findex (indicator fin17a.17a1.d). The latest observation for the Philippines is from 2024; the snapshot was retrieved on 2026-06-10.
How has formal & mobile money savings in the Philippines changed over time?
World Bank Global Findex data show a rise from 14.7% in 2011 to 23.9% in 2024.
How does the Philippines compare with other countries in East Asia & Pacific?
The Philippines ranks 13 of 16 countries in East Asia & Pacific with data, with 23.9% versus a regional average of 45.4% (latest values per country).
Where does the Philippines rank globally on formal & mobile money savings?
The Philippines ranks 90 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
Source & methodology
Source: World Bank Global Findex, indicator
fin17a.17a1.d, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .