Saturday 19 January
Nov 24, 2017 @ 19:13

86M unbanked Filipinos ‘intolerable,’ Dominguez says

 

It’s 2017, yet most Pinoys still do not have access to formal bank and lending services.

Finance Secretary Carlos Dominguez III expressed dismay about the huge number of Filipinos who remain unbanked, with 86% still unable to access formal financial channels despite rapid economic growth.

?Over 86 percent of Filipinos remain unbanked to this day. That is an intolerable ratio of the population excluded from the financial mainstream. We aim to reduce that number dramatically over the next few years,” Dominguez said during the 20th anniversary of Maybank Philippines.

“Continuous technological innovation in banking practices will help bring us closer to financial inclusion.”

Dominguez assured that the Duterte administration will be working to democratize services down to the farthest towns and provinces to get more residents on board.

Please follow and like us:

Tags: , , , ,

Related Stories
There's a long way to go for full coverage.
Consumer sentiment plunged during the fourth quarter across all income groups, including the high net
This bank's retail push has made great strides this year.


 

Trending News

Recommended on sister sites

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.