1/3  BIS central bankers' speeches  Banks have ample capacity to absorb shocks, with capitalization remaining well beyond the minimum regulatory requirements. Banks also enjoy more-than-enough liquidity. Meanwhile, bank lending has recovered on improving demand for loans. Banks have also remained profitable throughout the crisis.
All these key indicators attest to the ability of the banking sector to support recovery of the Philippine economy. While the road to full recovery remains iffy, the medium- and long-term prospects for the Philippines are promising. Moving on to BSP’s financial digitalization agenda … The rationale behind the push for financial digitalization is two-fold. First, is robust economic growth.