LEARNING from the 1997 Asian economic crisis has helped the Philippines “float over the waves of the global financial storm,” Bohol Bankers jointly agree.
Bankers here agree that the country has in place strong economic fundamentals and strong credit policies and this would insulate the country for the sweeping fiscal crisis.
Speaking at the Kapihan sa PIA last week, Bohol Bankers Association (BBA) headed by banker Rodney Lumuthang along with the group’s Board of Directors assured Boholano depositors that the phenomenon of the global economic crisis is not a thing to worry about.
The global financial strain has recently stirred depositors who think that the meltdown in major US financial establishments could cause unthinkable repercussions in the world, which depends fairly on the US economy.
Here however, bankers noted not much ripples caused and BBA Chairman Lumuthang along with UnionBank’s Marius Borja assured “we have in place a stable financial fundamentals, and the public should know that the banks are committed to protect the interest of our depositors.”