Clearly, public sector banks (PSBs), with their large branch network, will have to adapt because some of these new entrants will go after their customers. This is no bad thing because, hitherto, those customers have had limited choice.
Together, we can work towards developing a safer, more dynamic, more digital, and more inclusive banking system for the banking public. Mabuhay ang Chamber of Thirft Banks and I wish you all a meaningful convention ahead! Thank you all! 3/3  BIS central bankers' speeches