However, we have to exert more effort as today, one out of four or over 20 million Filipinos still live in poverty.
Similarly, deposit financing will no longer be as cheap, as banks will have to compete with financial markets and real assets for the household’s savings. As households become more sophisticated, they will be unwilling to leave a lot of money in low interest bearing accounts. Of course, households will still be willing to accept low interest rates in return for liquidity.