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The Bank Marketing Association of the Philippines or BMAP is an organization of banking institutions established last February 27, 1970 to continuously upgrade the practice of bank marketing in the country.
Message from the BSP Governor
The officers and members of the Bank Marketing Association of the Philippines (BMAP) led by President Ferdie LaChica, distinguished speakers, fellow bankers, our friends from the media, special guests, good morning!
I congratulate the leadership of the BMAP for taking the initiative to gather members of the financial community and the media to discuss the global financial crisis and its possible impact on the domestic front. Indeed, we should welcome activities such as these which promote open exchange that lead to better understanding of critical issues. After all, we cannot move forward together.. if we are not on the same page and able to engage the cooperation of our stakeholders at this crucial point in time.
In this year’s forum, BMAP’s theme asks this NON-TRIVIAL question: “Is there really cause for alarm?”
Well, let me share some information that will help you respond to this question.
Message from the BMAP President
Welcome to the new improved BMAP website!
Good morning and welcome to the Bank Marketing Association of the Philippines Forum entitled: The Crisis in Perspective: Is There Really Cause for Alarm.
Since the so-called global financial crisis hit us last year, a number of large multinational financial institutions went on the brink of collapse and needed to be bailed out. These caused a certain level of alarm among our banking public particularly on the soundness of the local banking industry and its capacity to absorb the extent of its exposure to those bailed out multinational financial institutions.
In spite of numerous statements issued by the Bangko Sentral ng Pilipinas assuring the public of the banking sector’s stability, concerns from some depositors continue to persist.
Message from the Chamber of Thrift Banks President
Mr. Pascual M. Garcia III
President, Chamber of Thrift Banks
President, PSBank
President Ferdie La Chica, Distinguished Officers and Members of the Bank Marketing Association of the Philippines, Amb. Yao, Miss Ressa, Friends from the Phil. Media, Guests, Ladies and Gentlemen, on behalf of the Officers and Members of the Chamber of Thrift Banks, I congratulate the Bank Marketing Association of the Philippines for holding a forum such as this.
This forum entitled “THE CRISIS IN PERSPECTIVE – IS THERE REALLY CAUSE FOR ALARM?” is timely and appropriate. For truly, the financial and economic crisis in the industrialized world is deepening. We see media and internet accounts of asset deflation, bank bailouts, business difficulties and job losses in major industrialized countries of the world. Consumer and Business confidence in the economic outlook has plunged to depths unseen in the post war era. Fear grips consumers. Even those unaffected directly have reduced their spending to save more.
