TOTAL assets of the Philippine banking sector rose to P25.62 trillion as of end-May, data from the Bangko Sentral ng Pilipinas showed, 12.4 percent higher than the year-earlier P22.79 trillion.

Bank assets primarily consist of deposits, loans and investments, including cash, amounts due from other banks, interbank loans receivable (IBL), and reverse repurchase (RRP) arrangements, adjusted for allowances for credit losses.

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