A recent study by the Asian Development Bank 3 notes that “expanding the economy” is integral to the sustainability of the Philippine pension system. This is a validation of the virtuous cycle where a growing economy is expected to generate employment, foster higher collection of premiums and enhance the growth potential of the domestic pension system.
Ladies and gentlemen, although we cannot have all of you physically present here with us today due to prevailing sanitary conditions, I look forward to interactive discussions from CEOs of all banks present in this room. I have also taken note with satisfaction that the entire banking industry is following this discussion today through virtual means.