The Bangko Sentral ng Pilipinas is considering extending incentives towards thrift banks that will consider mergers. This is part of their efforts in improving the viability of smaller lenders. Back in December, BSP revealed guidelines for the Consolidation Program for Rural Banks, which aims to strengthen local lenders through mergers.
During a panel discussion, BSP Governor Amando M. Tetangco, Jr. stated that the industry has “done very well.” He was quick to take note of the thrift banking industry’s growth as far as their loans, assets, and deposits are concerned. Tetangco cites them as excellent reasons to focus on the industry.
