Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. delivers his keynote address during the annual convention of the Chamber of Thrift Banks, with CTB Immediate Past President and PS Bank President Pascual Garcia III and Producers Savings Bank Vice-Chairman & President Edmundo Medrano awaiting their turn to ask questions. In his speech, Gov. Tetangco declared that the thrift banking industry will continue to contribute in keeping the Philippine economy on the growth track, as he urged CTB members to adhere to good governance practices for their banks.

The 54 members of the CTB vowed to uphold good governance practices as the BSP urges the industry to remain committed in delivering the best banking services to its clients during the CTB’s recent annual convention at the Dusit Thani Hotel.

CTB, the industry’s umbrella organization, said that the optimistic economic outlook in 2010 in which the Philippines ranked third globally, resulted in increased consumer spending and setting up of businesses, especially micro, small and medium enterprises.

This year’s convention theme, “Thrift Banks: Fuelling Consumers and Entrepreneurs as Engines for Sustained Economic Growth,” highlighted the thrift banking industry’s commitment to provide first-class products and services to their niche markets and give importance to these sectors who are considered the backbone of the country’s economy.