Formal Savings Statistics in Philippines (2026)
As of the 2024 data, 10.3% of adults in the Philippines saved at a formal financial institution, per World Bank Global Findex. Down from 19.2% in 2021 to 10.3% in 2024 (−8.8 percentage points). Philippines ranks #14 of 16 economies in East Asia & Pacific on this measure, and #105 of 142 globally.
Key Statistics
- Latest value (2024)
- 10.3% (2024)
- Formal Savings in the Philippines as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- −8.8 pp (2024)
- Down from 19.2% in 2021 to 10.3% in 2024 (−8.8 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). Down from 14.7% in 2011 to 10.3% in 2024.
- Peak value (2021)
- 19.2% (2021)
- Highest value in the available series; the 2024 value is 10.3%.
- Rank in East Asia & Pacific
- #14 of 16 (2024)
- The Philippines ranks 14 of 16 countries in East Asia & Pacific with data, based on each country's latest value.
- Global rank
- #105 of 142 (2024)
- The Philippines ranks 105 of 142 countries with data globally.
- East Asia & Pacific average
- 42.9% (2024)
- The Philippines (10.3%) is below the average of 42.9% across the 16 countries in East Asia & Pacific with data.
- Among women (2024)
- 12.6% (2024)
- Value for women in the Philippines, same 2024 World Bank Global Findex data.
- Among men (2024)
- 8% (2024)
- Value for men in the Philippines, same 2024 World Bank Global Findex data.
- Gender gap (women minus men)
- +4.6 pp (2024)
- In 2024, the figure was 12.6% for women and 8% for men — 4.6 percentage points higher among women.
- In rural areas (2024)
- 8.7% (2024)
- Value for rural residents of the Philippines in 2024.
- Rural gap vs national
- −1.6 pp (2024)
- Rural residents (8.7%) are 1.6 percentage points below the national figure (10.3%).
- Among the poorest 40% (2024)
- 4.7% (2024)
- Value for adults in the poorest 40% of households in the Philippines in 2024.
- Poorest-40% gap vs national
- −5.6 pp (2024)
- The poorest 40% (4.7%) are 5.6 percentage points below the national figure (10.3%).
- 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 | 10.3% | −8.8 pp |
| 2021 | 19.2% | +7.2 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?
10.3% of adults in the Philippines saved at a formal financial institution in 2024, according to World Bank Global Findex data.
Where does the Philippines rank globally on formal savings?
The Philippines ranks 105 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
Is there a gender gap in formal savings in the Philippines?
Yes — in 2024 the figure was 12.6% for women and 8% for men, a gap of 4.6 percentage points in favor of women.
Source & methodology
Source: World Bank Global Findex, indicator
fin17a, 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 .