BAP urges banks to maintain low lending rates during quarantine

The Bankers Association of the Philippines (BAP) urged member banks on Monday to maintain reasonable lending rates and continue providing essential services during the enhanced community quarantine.

BAP president Cezar Consing asked banks to keep lending rates as low as possible to support the economy amid the COVID-19 pandemic.

Consing highlighted that banks have taken steps to serve customers despite the lockdown, including maintaining branch presence for non-digital transactions and ensuring cash availability in open branches and ATMs.