Manila, July 14 -- Total assets of the Philippine banking system went up by over 11 percent in May this year, data from the Bangko Sentral ng Pilipinas (BSP) showed.

Latest data showed that the banking system's total assets amounted to PHP30.4 trillion in May from PHP27.3 trillion in May last year.

The bank assets during the month were also higher than the PHP30.1 trillion recorded in April this year.

"The continued expansion in bank assets reflects healthy growth in lending, sustained deposit inflows, and higher investment holdings amid resilient domestic demand and supportive liquidity conditions," Union Bank of the Philippines chief economist Ruben Carlo Asuncion said.

"The fact that banking system assets have surpassed the PHP30-...