Bank Marketing Association of the Philippines

The Crisis in Perspective Is there really cause for alarm?

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The Bank Marketing Association of the Philippines (BMAP) is an association of marketing practitioners from the country’s top banks and financial institutions. BMAP recognizes that as a group of communicators, it plays a critical role in times of crisis.

With the ongoing global financial crisis and predictions for worse things to come, BMAP considers it timely to bring together key players and provide a venue where the roles and needs of each stakeholder are discussed.

The banking industry and each individual bank carry the responsibility of being transparent to its clients. Media has the noble role of delivering the truth and at the same time, it must also concern itself with business bottomlines. At the end of the day, the stories must sell and the stories must capture the fancy of the target audience. Regulators and government agencies need to remain impartial even as they carry on with their respective duties to its publics. The public simply demands for the truth.

Let there be a venue that the major stakeholders present their views with the single objective of agreeing that the truth must be told and finding ways on how best to deliver the truth. BMAP organized this forum to put the truth in a much clearer perspective. Is there really cause for alarm?

The global financial crisis saw a number of large multinational financial institutions on the brink of collapse. Add to this the recent spate of closures of rural banks identified with a particular group of investors. These have caused a certain level of alarm among our banking public particularly on the soundness of the local banking industry. 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.

BMAP believes that there is really no cause for alarm, if only people are made aware of the real picture.

This is the vision behind this forum – – “The Crisis in Perspective: Is there Really Cause for Alarm”. Targeted primarily for members of the media and the representatives from the banking and financial sector. Among those invited to the forum are the BSP Press Corps, the Economic Journalists Association of the Philippines, the Officers of the Kapisanan ng mga Broadcasters ng PIlipinas, Officers of the Bankers Association of the Philippines, Chamber of Thrift Banks, and Rural Bankers Association of the Philippines and Presidents/CEOs of BMAP member institutions.

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Posted on Thursday, March 12th, 2009 at 2:05 pm Print this Article Email this Article

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