Monetary intermediation industry dominates the sector

Preliminary results of the 2010 Annual Survey of Philippine Business and Industry (ASPBI) showed that the Philippines had a total of 648 establishments with Total Employment of 20 and over engaged in Financial and Insurance Activities. As shown in Figure 1, Monetary intermediation registered the highest, with 38.7 percent of the total. Other financial service activities, except insurance and pension funding activities, ranked second with 28.5 percent and Insurance, third with 14.7 percent.

The 2003 Annual Survey of Philippine Business and Industry covered a total of 15,871 Financial Intermediation establishments. Of the total figure, 15,228 establishments or 95.9 percent had an average total employment (ATE) of less than 20. The remaining 643 establishments or 4.1 percent had an average total employment of 20 or more.

The 2005 Annual Survey of Philippine Business and Industry covered a total of 16,756 Financial Intermediation establishments. Of the total figure, 15,980 establishments or 95.4 percent had an average total employment (ATE) of less than 20. The remaining 776 establishments or 4.6 percent had an average total employment of 20 or more.