Manila, Feb. 13 -- An official of East West Banking Corporation (EastWest Bank) is optimistic about a 30-percent expansion of their consumer lending this year given the large number of young working Filipinos.
Lawrence Lee, EastWest Bank executive vice president and head of consumer lending, told reporters Thursday that the Philippines is "a consumer-led economy."
He said the large number of young working Filipinos, whose average age is around 26 years, having the capacity to provide for themselves, buy assets, and travel, are keys to boosting consumer spending.
"So, I think, our demographic dividend continues to be a key driver of consumer growth, consumer lending, and consumer spending," he said.
The Bangko Sentral ng Pilipinas...
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