The earthquake in Bohol was the deadliest earthquake the Philippines has experienced in 23 years while Typhoon Yolanda is the most devastating typhoon on record. BIS central bankers’ speeches  1  2013, loans expanded by 13 percent, total resources rose by 16 percent, while profitability increased by 18 percent.
However, banks entered the crisis in a highly leveraged position, depending heavily on wholesale markets for funding. As a result, they were hard hit by the change in markets’ perceptions regarding the sustainability of debt levels in the economy.