BSP recognizes collective effort of the banking industry in supporting economic growth, digitalization

During the recent “Annual Reception for the Banking Community” hosted by the central bank at its head office in Manila, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla (center, top photo) thanked the banking sector for their collective effort and long-standing collaboration with the BSP.

The Governor underscored that the banking system is well-managed, shown by its continuous growth in assets, loans, and deposits that support the funding needs of the country’s growing economy.

The central bank chief also recognized the digitalization efforts of the banking system through InstaPay and PESONet, which now allow convenient electronic fund transfers between banks, improving service delivery for their clients.

With the Governor in the top photo are (from left) Monetary Board Members (MBMs) Eli M. Remolona; V. Bruce J. Tolentino; Peter B. Favila; Benjamin E. Diokno, who is also Finance Secretary; Antonio S. Abacan, Jr.; and Anita Linda R. Aquino. Lower photo shows the Governor and the MBMs with Deputy Governors (from left) Mamerto E. Tangonan, Bernadette Romulo-Puyat, (tenth to twelfth from left) Francisco G. Dakila, Jr., Chuchi G. Fonacier, and Eduardo G. Bobier.