Exploring the world of transformation occurring in the Philippine banking industry today
The Philippine banking industry has changed dramatically in recent years. It is set for substantial growth after its credit rating has been raised to investment grade. The country has become the only Southeast Asian nation to achieve this status and one can expect that the move will attract foreign investment and boost the country’s long-term growth potential. The upgrade is likely to attract further capital inflows that are already posing challenges for many policymakers across Asia as global investors flock to the region in search for higher returns. The country’s banks did not just perform well in 2012; they were in fact the best performing bank stocks in the ASEAN region.
One can expect the world's financial industry this year to face significant challenges primarily related to Basel III. There will be pressure on capital rising while rates continue to be low. The market is expected to remain liquid, which results in more competition. There are multiple regulatory changes that will have an impact on the banking industry.
The Asian Banker organized the third annual Philippine International Banking Convention in Manila, on 25th October 2013. This one day event connected and promoted the innovative developments taking place in the Philippine banking industry and within the global community. This conference continued to be the platform that brought international best practices to the Philippines.
Key working sessions included: