The Philippine banking industry remained optimistic about the country’s economy amid signs of a global recession just lurking around the corner, according to results of a survey by the Bangko Sentral ng Pilipinas (BSP).
In a statement, the BSP said majority of respondents in the semi-annual poll, “Banking Sector Outlook Survey,” saw gross domestic product to grow between 6 and 7 percent in the next two years.
“Outlook on the Philippine banking system remains stable,” said the BSP on the survey results.
Most respondents projected double-digit growth “in assets, loans, deposits and net income,” the BSP said.
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The outlook was “bullish,” or rosy, which indicated that “banks will continue to provide an environment conducive to sustained domestic economic growth,” the BSP added.
Expecting what economists termed as headwinds, respondents planned to keep risk-based capital and liquidity well beyond domestic and global standards, according to the survey results.
