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Announcements May 12, 2022

Statement of the Bankers Association of the Philippines on the Incoming Administration

The Bankers Association of the Philippines (BAP) congratulates presumptive president-elect Ferdinand R. Marcos Jr. as the next leader of our country.

“We have a generally peaceful and orderly election that is positive for the economy,” BAP President Antonio C. Moncupa, Jr. said.

“On the other hand, there are considerable headwinds facing the economy – geopolitical uncertainties, inflation, and the lingering effects of the pandemic.  We wish the new administration well in meeting these challenges,” Moncupa added.

The BAP looks forward to working with the incoming administration to ensure a strong, stable, and well-functioning financial system to support the nation’s development goals.