There are many possible explanations: the low growth rate, the aftermath of the debt crisis or the fact that many firms are now evidently focusing less on maximising their returns and more on maintaining or expanding their market share. Central banks worldwide are dealing with these same phenomena.
I find it fitting therefore that the theme for your 27th National Credit Congress is “Credit Management: Key to Philippine Global Competitiveness.” Ladies and gentleman. As of February this year, total outstanding loans of commercial banks, thrift banks and rural banks have reached P1.97 trillion. Compared to a year ago, this is higher by 7.7 percent.