Press Release
March 26, 2020

RE: Appeal to banks

I am appealing to all government and privately owned banks, quasi-banks, credit and lending facilities, financial institutions and the like -- for the benefit of all Filipinos, please do not increase interest rates for consumer and commercial loans while we are all still under enhanced community quarantine.

I am also encouraging you to come up with flexible and convenient restructuring of existing loans to enable your clients to pay their arrears at a later period and at a lower amount.

In this time of national crisis, everybody must sacrifice for the greater good. Huwag po natin mas pahirapan pa ang taumbayan.

Both government and the private sector must work together and do what may be deemed necessary to address and respond to the growing threats of COVID-19, and the socio-economic impact that comes with it.

We appeal for everyone's cooperation and compassion. Magbayanihan po tayo. Tulungan nating bumangon ang bawat Pilipino bilang isang nagkakaisang bansa.

Together, we can heal as one.

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