Bong Go lauds bankers’ group
SEN. Christopher Lawrence “Bong” Go lauded the decision of the Bankers Association of the Philippines (BAP) to continue providing necessary services to the public and maintaining reasonable lending rates during the enhanced community quarantine.
Go, chairman of the Senate health and demography committee, earlier appealed to government and private banks, quasi-banks, credit and lending facilities, financial institutions, and the like to keep their services functional and convenient and to allow a grace period for the payment of loans
He also urged them not to increase interest rates for consumer and commercial loans.
The senator encouraged these institutions to come up with flexible and convenient restructuring of loans to enable their clients to pay their arrears at a later period and at a lower amount.
In a statement released on Sunday, March 29, the BAP asked its member-banks to maintain reasonable lending rates; maintain a level of branch presence to allow transactions that cannot be performed digitally; keep digital channels open; ensure availability of cash in open branches and ATMs; and contribute to stable and liquid financial markets.
“In this time of national crisis, everybody must sacrifice for the greater good. Huwagponatinmaspahirapanpaangtaumbayan (Let us not make their lives any harder),” Go said.
“Both government and the private sector must work together and do what may be deemed necessary to address and respond to the growing threats of Covid-19 (coronavirus disease-2019), and the socioeconomic impact that comes with it,” he added. “Magbayanihanpotayo.Tulungan natingbumangonangbawatPilipinobilangisangnagkakaisangbansa (Let us help each other. Let us help every Filipino to rise as one united nation). Together, we can heal as one,” Go said