The Market Monitor Minding the Nation's Business
Local thrift banks will explore ways to increase their presence in remote areas of the country during a convention slated on March 14, at the Dusit Thani Hotel in Ayala Center, Makati.
Bangko Sentral ng Pilipinas (BSP) Governor Governor Amando Tetangco, Jr. will deliver the keynote address at the event, which also marks the annual convention of the Chamber of Thrift Banks (CTB).
With theme “Maximizing Opportunities in Countryside Development,” the CTB convention aims to highlight the thrift banking sector’s commitment to continuously initiate concrete steps that are supportive of the government’s thrust in promoting countryside development.
The annual meet also hopes to prepare thrift banks for bigger opportunities, to expand into new markets and better serve the needs of its clients, particularly those based in the countryside.
“The government is priming the economy and there are a lot of infrastructure projects that have been approved. Thrift banks will benefit from these indirectly as micro, small and medium enterprises (MSME) will be directly benefiting from the economic growth in their respective localities or territories,” Cecilio San Pedro, CTB convention chair and president of Sterling Bank, said.
“We hope to align our direction with the government›s thrust thereby maximizing our opportunities,” he added.
Thrift banks have always maintained a closer role in the communities they serve.
Through the years, they have played a major role in the mobilization of deposits and extension of credit resources to individuals and MSMEs, particularly in the countryside, and in the provision of housing and consumer loans.
“The CTB›s conventions have been an excellent forum for a healthy exchange of ideas designed not only to promote the well-being of the thrift banking sector but also to seek avenues toward contributing to the country’s social and economic goals,” CTB president Gregorio B. Anonas III said.
Also invited to the convention are Department of Trade and Industry Secretary Ramon Lopez, Socio Economic Planning Secretary and NEDA Director General Ernesto Pernia and Fung Shui Master Andrew Tan.
“The convention speakers provide our members with vital information, among others, government programs and initiatives, legislative/regulatory updates, making our members aware of the opportunities available to them especially those based in the countryside,” added Anonas who is also president of Wealth Bank.