Capital adequacy ratio (CAR) of universal and commercial banks stood at 15.6 percent on solo basis and 16 percent on consolidated basis as of end-September 2019, well above the BSP’s regulatory requirement of 10 percent and the internationally prescribed floor of 8 percent. Economic growth has become inclusive. That’s welcome news. More and better jobs were created.
In particular, the unemployment rate declined to 4.5 percent in October 2019, the lowest 1/5  BIS central bankers' speeches  ever in recent Philippine history. Remarkably, poverty incidence dropped to 16.6 percent in 2018 from 23.3 percent in 2015, lifting nearly 6 million people from poverty over the three-year period.