Narrated by: Kevin Johnson
Produced by: Behind Asia Team
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Brought to you by the Behind Asian Team.
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Why Foreign Banks Are Leaving The Philippines
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We just consider our own brand.. & i guess trust issue.. 😊
Hopefully intense competition only
What happened Philippines
It term of international investors
Why
They owed 50etric tons of Gold
These foreign banks are existing because the world is going back to the GOLD standard following with Digital Currency
Why?It because these foreign banks don't have the innovation to compete with local banks.
Foreign Banks will not survive in Philippines, because local banks are more competitive and offer better good service.🤣🤣🤣🤣🤣🤣
Dahil kay Marcos yan
Oh realy it's not a concern who cities and ing they are weak…
Their exit may actually mean more about these banks financial position rather than PHs market.
This has a lot to do with so many delinquent mortgages and foreclosures. The country is loaded with deadbeats and nobody pays their loan obligations.
Because they are embracing digital money… Do you know the cause of inflation? Its just BS. Lacking of print out money🤧🤣
PHILIPPINES LONG TIME AGO NEVER BANKRUPT. IF EUROPEAN DON''T COLLABORATE WITH
PHILIPPINES WHICH COUNTRY HAS OUTSOURCING . THEY WILL BE HAVING AFFECTED BY DOWN HILL ECONOMICS. COLABORATION IS VERY IMPORTANT NOT SELFISH NATIONALISTIC
CHARACTER . OR WILL BE AFFECTED BY COLLAPSE HARMFUL MIND AND DISCRIMINATION.
EVERY SITUATION MUST BE UNDERSTOOD NOT ASSUMING.
Filipino banks are monopolized by chinesse filipinos and just like other business they don't like them to enter the philippines because they don't want competitor's from other countries
they focus too much on the ads and promos. ING used to give 100php top-up/deposit to anyone who can refer. If this is the model then they will really fail.
Because Filipino has 51 Million people Unbanked
They wanted higher minimum deposits that most of the population could not afford.
Let the US dollar base bank leave the country and replaced by BRICS bank member !!
GOLD STANDARDIZATION BACK IS THE REASON For new reset Forien bank cant compete to the locals
we are thirld world country plus
corruption is talamak ,pati na ang droga ng mga sindikato. !!
BUTAS NG KARAYOM TLGA
They are taking a hit because of the US recession.
Foreign Banks don't really have money to back it up, they only rely on digital money, Philippine pesos have gold to back their currency plus world wide overseas workers remittances are massive to support the country
Filipinos have another bank its called bumbay
no client thats the cause of exsist ..or maybe they are going broke..
Another unmentioned reason can be the constitutional limits to foreign ownership of estates and essential businesses, turning off foreign investments that these foreign banks mostly serve…
Unionbank, Landbank, and BDO are enough for Filipinos to use.
Citibank is awful.
So sad.
They can't stand local banks… Lol
No money in the Philippines
Wow, Citibank is leaving the Philippines?
ING as well?
Whoa, that's big.
It's about time.
These scammers should be out of the archipelago right now.
As everyone is already online, Citibank and ING need to focus on different market instead. We have lots of local banks that are sufficient in servicing us. However, the videos title is so alarming and kinda deceiving. Good thing you explained it accordingly
not surprising!filipinos compared to other asians are not competent in running a business!..filipinos are inherently indolent and are not resourceful unlike other countries in asean..hahaha..