The Chamber of Thrift Banks Gears Up for Expansion due to ASEAN Integration
The Chamber of Thrift Banks (CTB), the umbrella organization of the country's 71 thrift banks, gears up for the upcoming Association of Southeast Asian Nations (ASEAN) Integration by preparing its members for bigger opportunities to expand into new markets, its president said in a news release.
CTB will familiarize SMEs (small and medium enterprises) on the integration, what industries will be opened in 2015 and 2016 and make them competitive in the open, integrated economy
The ASEAN Integration comes at an opportune time for local thrift banks, CTB said, as confidence in the industry remained high in the past year, with deposit liabilities growing by 19.3 percent year-on-year to reach P623.431 billion as of December 2013.
PERSONAL NOTES
- Thrift Bank: Savings and loans association
- By ASEAN integration, they mean integrating the policies of this organization with that of its newer members, The Philippines. It also means opening up its markets and industries to Filipino corporations
Duane, Chanel picked a similar article about the Asean Banking Integration Framework (ABIF). I'm curious as to what you really think here. Is this good or bad? I know that you mention from the article that they say its good because it will open up the markets but could there be disadvantages to this too? What do YOU think?
ReplyDeleteThis is such a cool article Dwayne! Do you think that the banks will ultimately benefit as much as ASEAN or the CTB has said that they would? Or would they benefit, but not as much, because they're going to have to deal with extra things like interests and taxes to these major organisations?
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