PSE-GCash partnership boosts stock market accounts in 2023

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Stock market accounts saw a double-digit growth in 2023, thanks to the Philippine Stock Exchange’s partnership with mobile wallet GCash which made opening of stock market accounts more accessible to the public.In a statement on Wednesday, the PSE reported that it booked a total of 1,906,019 stock market accounts as of end-2023, up 11.3% or 193,285 accounts from 1,712,734 accounts in 2022.

2% or 266,861 accounts.“Giving e-wallet holders direct access to the stock market is instrumental in our drive to increase retail investor participation in the market,” said PSE president and CEO Ramon Monzon.In terms of classification, retail investors made up 98.5% of total accounts while the remaining 1.5% belonged to institutional investors. Similarly, local investors made up 98.5% of total accounts while the remaining 1.5% were foreign investors.

 

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