The Bankers Association of the Philippines assured the public of continuous availability of cash through automated teller machines and digital platforms during the month-long enhanced community quarantine imposed by the government in Luzon.
“In our efforts to support the local economy, the national government and the banking public in the fight against COVID-19, the banking community and their people are in the front lines to help ensure the delivery of banking services,” BAP managing director Benjamin Castillo said in a statement Wednesday.
Castillo said that to alleviate the plight of businesses and their workers, banks would also extend flexible arrangements to borrowers who need critical support during these extraordinary times.
Banks said they remained vigilant of the possible risks facing their employees and clients. They said they were taking the necessary measures against the spread of the coronavirus disease 2019 or COVID-19.
BDO Unibank Inc., the biggest lender controlled by the Sy family, said it continues to service the requirements of its clients through its more than 1,400 branches nationwide, complemented by over 4,400 ATMs and digital channels via internet and mobile platforms.
It said that to provide uninterrupted service to customers and safeguard employees’ well-being, BDO activated its business continuity plan and implemented precautionary workplace measures. Julito G. Rada
It said the impact of COVID-19 to date was limited with the bank experiencing normal loan and deposit growth. However, the longer-term impact is uncertain and will depend on the COVID-19’s duration, depth and scale, it said.
EastWest Banking Corp., the financial unit of Filinvest Development Corp., said it was closely monitoring the COVID-19 situation since early January 2020. It said it was regularly assessing risks by checking information and reports from official public health and government agencies.
Metropolitan Bank & Trust Co. said it activated protocols to ensure minimal business disruption.
Philippine National Bank said it was committed to provide uninterrupted financial services to its customers and the general public through its head office and a network of 715 domestic branches
and 71 overseas branches, representative offices, remittance centers and subsidiaries.
PNB said it formed a multi-functional and dedicated contingency team to provide strategic operational support for the entire duration of the COVID incident.
Union Bank of the Philippines said it had prepared the organization for any incident that might potentially disrupt business operations with robust business continuity plans.
UnionBank implemented a split-workforce arrangement complemented by alternative work arrangements that involve telecommuting and work from home strategies.
Rizal Commercial Banking Corp. said it has a live pandemic contingency plan in place since 2015. It said the plan was invoked as early as Jan. 21, 2020 and the bank was in the highest implementation stage of the plan since the crisis started. This includes on-going split work arrangements, work from home, and skeleton set up in key locations.
Philippine Savings Bank, the thrift bank arm of the Metrobank Group., said it remained in full operation, since the national government identified banking as an essential service to Filipinos.