THE Philippine banking system displayed resilience and stability in the second quarter of the year as the country's economic operations and financial transactions continued to recover from the interruption caused by the Covid-19 pandemic and quarantine measures, according to the Bangko Sentral ng Pilipinas (BSP).

'During the review period, banks' balance sheets sustained growth in assets and deposits,' it underscored in a report titled 'Second Quarter 2021 Report on Economic and Financial Developments' released over the weekend.