There is no doubt that the COVID-19 pandemic has upended the lives of many Filipinos. It has led to the loss of lives, livelihoods, and opportunities from millions of our kababayans in the last two years.
In fact, according to the Financial Inclusion Survey report released by the Bangko Sentral ng Pilipinas (BSP) in 2021, the number of Filipinos with savings accounts dropped by 25% due to the financial strain brought about by the COVID-19 pandemic. The incidence of savings among Filipinos also declined to 37 percent of 77.2 million Filipino adults from 53 percent in 2019, according to the same report.
Cebuana Lhuillier Bank, the banking arm of microfinancial services giant Cebuana Lhuillier, is committed to do its share in encouraging Filipinos, especially those in the marginalized sector, to resume their savings journey after the challenging past couple of years.
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