Manila, March 30 -- The Bankers Association of the Philippines (BAP) has urged its members to continue providing necessary services to the public and maintain reasonable lending rates as the island of Luzon and other areas are put under enhanced community quarantine to deter the further spread of the coronavirus disease (Covid-19).
In a statement released on March 29, the BAP asked its member banks to maintain reasonable lending rates; maintain a level of branch presence that allows for the execution of transactions that cannot be performed digitally; keep digital channels open; ensure availability of cash in open branches and the majority of ATMs; and, contribute to stable and liquid financial markets.
The BAP noted that "the Bangko Sent...