DICT hosts ASEAN digital ministers

By: Manila Bulletin

THREE Philippine banks expect their income and loans to continue growing this year, but slowing consumer demand amid record-high interest rates and inflation may affect their operations.

Bank of the Philippine Islands (BPI) President and Chief Executive Officer Jose Teodoro K. Limcaoco said he expects BPI to grow further this year as it targets to expand its customer base.

“This year, we should see an improvement on these numbers and our growth will come from new customers, better products, and better customer service,” Mr. Limcaoco told reporters during the launch of the bank’s partnership with Lazada last week.

He added that the bank aims to increase the number of their account holders by partnering with existing business clients that will serve as agents to onboard more Filipinos into the financial system. 

BPI was the country’s third-largest bank in asset terms at end-September 2022 with P2.52 trillion.

It booked a net income of P39.6 billion in 2022, up 66% from a year prior, driven by strong loan growth, higher net interest margins and lower provisions.

Meanwhile, China Banking Corp. (China Bank) sees sustained asset and profitability growth and is looking to focus on its core businesses, cross-selling, cost management, and maximizing their distribution network while expanding their digital services, its Chief Finance OffiTo discuss efforts and possible partnerships that would be mutually beneficial for the member countries, the Association of Southeast Asian Nations (ASEAN) state members and Information and Communication Technology (ICT) ministers gathered during the second day of the 3rd ASEAN Digital Ministers Meeting (ADGMIN).

The Philippines’ Department of Information and Communications Technology (DICT) is this year’s host for the ADGMIN, ASEAN Digital Senior Officials and Ministers (ADGSOM), and related meetings.

With the theme “Synergy Towards a Sustainable Digital Future,” this year’s meetings are scheduled from Feb. 6 to 10.

DICT Undersecretary Jocelle Batapa-Sigue, Chair of this year’s ADGSOM, and DICT Undersecretary Anna Mae Yu Lamentillo, Head of the Philippine Delegation, met with the ADGSOMs and ASEAN Delegates to discuss collaborative efforts in transforming the region through ICT.

During the meeting, building stronger partnerships among ASEAN Member States (AMS) in four areas including Safe Cyberspace, Citizen-centric Governance, Digital Inclusion, and Innovation-driven Economy were also discussed by the attendees.

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