“The results show that BSP should continue to work towards a more inclusive financial system, one that reaches to … those who are excluded or unbanked,” BSP Governor Amando M. Tetangco, Jr. said in a briefing Wednesday morning.
The survey, conducted between November 2009 to January 2010, covered 10,520 households located in the National Capital Region, Ilocos Region, Central Visayas Region and Davao Region.
Results of the survey showed eight out of ten households did not have a deposit account, BSP Assistant Governor Almasara Cyd N. Tuano-Amador said during the same briefing.
“The main reason cited by … households for the absence of a deposit account was that they did not have enough money for bank deposits,” Ms. Tuano-Amador said.
“Other reasons were they do not need a bank account, they cannot manage an account, the minimum balance is too high, they do not like to deal with banks or financial institutions and others not specified,” Ms. Tuano-Amador said.
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