Comments on: Should we panic? BDO, Metrobank, RCBC hit by Lehman collapse

By: James

James — Fri, 26 Sep 2008 23:59:24 +0000

I think besides the loss of material wealth, another big enemy in times like these is the uncontrolled emotions of people in the market which usually makes a bad situation into a terrible one. The fear mongering by the media is irresponsible and the “quento quento” of those saying “the sky is falling” because of the recession are ignorant statements of people who do not know the facts.

Looking at this report and the financial statement of these banks (unless they are lying of course) there should be nothing to worry about.

By: James | PinoyMoneyTalk.com

James | PinoyMoneyTalk.com — Thu, 25 Sep 2008 02:41:38 +0000

@Jess, that’s what I’m thinking too. I looked at their Financial Statements and the banks look healthy. The provision for losses is not that big compared to their total asset base. Its worst impact on local banks is a decline in profits because of the write-offs, but depositors need not panic because the banks are still liquid.

By: Jess

Jess — Wed, 24 Sep 2008 20:56:15 +0000

I’m inclined to beleive that Banco de Oro, Metrobank and RCBC will be able to withstand the impact of their exposure to Lehman Brothers. No need to panic.

By: manilenio

manilenio — Fri, 19 Sep 2008 09:10:19 +0000

withdrawing your entire savings won’t do any good… anyway the banks said earlier said that they enough to cover their losses.

Btw, this is off-topic. Has anyone of you received a postcard from the Settlement Recovery center regarding the commission junction lawsuit settlement?

By: LaCola Berry

LaCola Berry — Fri, 19 Sep 2008 01:46:48 +0000

katakot naman ng recession na ito. All our hard work may gone in just a blink of an eye. I hope it all goes back to normal. Thanks for the info, Futuregizmo.