, consistently demands : first : intense training and preparation ; second : sensitivity to the environment and possible changes to climate ; third : possession of well - maintained equipment ; fourth : a team of highly trusted and reliable individuals ; fifth : leadership of competent guides ; and finally : tenacity and courage to keep going amidst challenges. training and preparation in mountain climbing, each team member has to be skilled, fit, and prepared physically and mentally. this takes years of conditioning if one is to take on the tasks involved. as the banking industry ’ s premier training arm, baiphil plays an important role in providing required skill sets and competencies for modern banking. bsp commends baiphil for continually being proactive in responding to the training gaps and emerging requirements of the banking industry in line with on - going developments in the regulatory and operating environment. with its expertise, synergy and collaborative partnership with the bsp, baiphil is in the best position to design a comprehensive training program to foster and strengthen expertise, excellence and integrity among banking professionals. 1 / 4 bis central bankers'speeches environmental sensitivity the conditions for climbing higher look good! the philippine economy remains in a position of strength. it continues to expand, despite challenges in the external environment. this expansion is increasingly broad - based with notable rebound in agriculture and exports sectors. the sustained strength of the economy in the first quarter of 2017 was underpinned by manageable inflation, more than adequate gross international reserves and a steady stream of inflows from overseas filipino remittances, revenue from the business process outsourcing sector and tourism income, all contributing to higher consumption spending. moreover, the philippine banking system continues to be a stable anchor for the economy with key performance indicators showing double - digit growth in resources, expansion in lending, adequate capitalization, improved asset quality, and profitable operations. these gains driven by our common vision will fuel us to pursue greater heights. well - maintained equipment and gear as central monetary authority, the bsp has a well - articulated policy framework and an enhanced policy tool kit. like good and ready mountain climbers, our gear is ready and we have improved surveillance methods. assessing the mountain, we are thoughtful about weather shifts. for instance, the increasingly clear signal for policy normalization in advanced western economies points to a rise in global interest rates, just a question of timing and pace. mindful of these, bsp continually strengthens its framework for financial risk surveillance, sharpening assessment of

nestor a espenilla, jr : bsp and baiphil moving mountains - new heights in banking excellence speech by mr nestor a espenilla, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the induction ceremony and general membership meeting of the bankers institute of the philippines ( baiphil ), makati city, 14 july 2017. * * * distinguished monetary board colleagues, juan de zuniga and tony abacan, baiphil president irene arroyo, immediate past president, liza ortiz, other baiphil past presidents, baiphil directors, officers and members, bap president nestor v. tan, bank ceos, my pdic colleagues, esteemed guests, friends, fellow bspers past and present, ladies and gentlemen, good afternoon! it is an honor and pleasure to carry on the tradition of inducting the new board members and officers of baiphil. as new bsp governor … [ i assumed the post eleven ( 11 ) days ago ] … it is auspicious that i now address the new leadership of baiphil … on behalf of my colleagues in bsp and the monetary board, let me extend our congratulations. as new leaders, it is natural for us to aspire greater achievements for the teams we lead. this is why i find your theme : “ scaling new heights in banking excellence ” very engaging. the theme is both timely and relevant as we come into our fresh roles and as the financial system evolves. the theme mentions heights. to add imagery to this message, let me take mt. everest as a starting point. everest, known as the roof of the world stands twenty - nine thousand and thirty - five ( 29, 035 ) feet above sea level. this is the ultimate goal of hard - core mountain climbers, the highest of heights. on 29 may 1953, a new zealander, sir edmund hillary and a sherpa, tenzing norgay, successfully climbed mt. everest in the face of great risk. as documented, they were the very first mountain climbers to reach the summit. now, sixty - four ( 64 ) years later, the peak of everest is decidedly less lonely and more than 3, 500 climbers have already reached the top or “ summitted ”. a myriad of things have changed since then. but from the time it was first done to the present day, scaling everest or any mountain