Manila: Total assets of the Philippine banking system went up by more than 8 percent in February this year, data from Bangko Sentral ng Pilipinas (BSP) showed.

According to Philippines News Agency, the banking system's total assets reached PHP29.19 billion in February, higher by 8.3 percent than the PHP26.95 billion recorded a year ago. The total assets during the month were also up from the PHP29.11 billion seen in January.

"The rise in banking sector assets reflects healthy, disciplined growth. Loans are expanding alongside steady economic activity, while banks are also increasing investments in government securities to manage liquidity amid still-elevated interest rates," Reyes Tacandong and Co. Senior Adviser Jonathan Ravelas said. Ravelas added that this indicates intact confidence, though banks remain selective and risk-aware.

"Moving forward, asset growth should continue but at a more measured pace - focused on quality lending and balance-sheet strength. Bottom line: the banking system is liquid, stable, and growing for the right reasons," he said.