Chen Chu, president of the Manila branch of the International Commercial Bank of China (ICBC), concurs, stating that banks have become more conservative in response to the economic downturn and the volatility of exchange rates. He says that ICBC has incurred foreign exchange losses of 300 million pesos in Manila alone.
中國國際商業銀行馬尼拉分行經理陳初也指出，在不景氣、匯率波動中，銀行政策也轉趨保守，中國國際商銀在馬尼拉光是兌換損失就達三億披索（合六百萬美金）。