BAP, gov’t to aid biz firms suffering from pandemic

April 29, 2020

The Bankers Association of the Philippines  said it is now closely working with regulators and legislators to help businesses affected by the coronavirus disease 2019  pandemic.

In a statement, the group said its tie-up with authorities aims to ensure liquidity and rehabilitation of industries severely affected by the Covid-19 health crisis.

“While the banking sector continues to provide critical support to the economy and the general public, efforts are now geared towards economic recovery of the country,” it said.

The BAP, however, did not elaborate on the programs it is working on with the help of authorities.

The group assured the public its commitment to provide “unhampered banking services and ensure the industry’s resiliency and cooperation as we go into another two weeks of extended quarantine”.

It said banks have improved their operations to adapt to the “new normal”.

“The public is likewise reminded to ensure that their information is protected against cybercrime that can proliferate during this time,” it added.