This is the dramatic moment a boat sank during a festival flotilla in the Philippines.

A group of worshippers were taking part in a fluvial parade when one of the vessels capsized during the Lupi Festival in Metro Manila.

Footage shows devotees swimming towards the riverbank, while others hang onto the half-submerged wooden boat on Sunday morning, January 25.

Moments later, the Lumban Municipal Disaster Risk Reduction Management Office and the Philippine Coast Guard rushed into the water to rescue the worshippers.

Local media reported that an estimated 40 individuals were on board when the boat gradually sank. No one was reportedly injured in the incident.

Authorities are currently investigating the incident. Officers speculate that the cause was overloading.

The fluvial procession is part of the traditional Paligong Poon during the Feast of San Sebastian Martir.

The Philippines is the only predominantly Christian nation in Asia, a legacy of three centuries of Spanish rule that has deeply embedded the Catholic faith and belief in miracles into the national culture.

The latest Census of Population and Housing by the Philippine Statistics Authority said that the country is home to over 99 million Christians.