Six out of ten adults with bank accounts indicated that the bank’s reputation is their main consideration in opening a deposit account. Other considerations are interest rates, minimum maintaining balance, proximity of the bank branch, and quality of client service. 4. Forty-seven percent of Filipinos borrow money.
Recent preliminary work by the Bank provides some evidence of market discipline when public notices have been issued.9 The Reserve Bank assesses the merits of public warnings or censures on a case-by-case basis, balancing the public interest in transparency and the deterrence effect against the natural justice of protection of information if prosecution is being considered and the seriousness of the offence.