THE CHAMBER OF THRIFT BANKS (CTB), the umbrella organization of the country’s thrift banks, is calling upon its members to fortify its operations as the new decade began quite eventfully with environmental, social and geopolitical issues affecting the world’s economies.

The Philippines took an unexpected hit at the start of 2020 as the country faced several crises brought on by the eruption of Taal, the outbreak of the African Swine Fever (ASF) and a possible contagion from the novel coronavirus (COVID-19). Adding to these domestic concerns, well known economists around the world predict a global recession in 2020.