Furthermore, the profitability of the banking system has continued to increase, although with some moderation as of late. Banks have remained capitalized at levels above both the BSPregulatory requirement and the international (BIS) standard.
In addition, let me also assure you that the rural banking industry remains strong and healthy despite the recent closures of some rural banks which have been found to have been suffering from severe solvency problems. BSP initiatives and policy thrusts Amidst this global crisis, the Philippines has indeed remained resilient and steadfast. How have we been able to accomplish this?