MANILA, Philippines — Bank presidents and CEOs are bullish about the outlook for the country’s banking system amid the projected five to seven percent gross domestic product (GDP) growth for the Philippines over the next two years. “The stable outlook for the banking system can be attributed to the strong macroeconomic fundamentals, adequate liquidity, and rising capital buffers of banks,” the BSP stated in the report. As part of their strategies, the bank executives identified three strategic priorities including growing the bank, optimization of available technology, and protecting the bank. More than seven of 10 respondents or 71.1 percent said they plan to use technology in their banking transactions over the next two years. The survey covered 114 president, CEOs, and country managers of all big and mid-zed banks as well as the top 20 rural and cooperative banks.

Source: Philippine Star October 03, 2018 15:45 UTC