Already, nine foreign banks have entered our banking system thru RA 10641 while another six banks are in various stages of talks with the BSP. ABIF makes it imperative that you improve your competitiveness by lowering operating costs, increasing product and service innovations, and improving service quality. This requires more investments in technology and training. Ultimately, this needs more capital and scale to thrive.
The changes that come with ASEAN integration, however, will be akin to a process unfolding. While the framework is already approved, the transition will be gradual. Now, then, is the time to consider your options. This is true for non-QABs and for QABs.