LAKASABrowsing by Author "Balbag, Tricia S."

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Challenges and strategies of universal banks in La Union during covid-19 pandemic
(Don Mariano Marcos Memorial State University – Mid La Union Campus, 2022-08) Allauigan, Wendell Kurt R.; Balbag, Tricia S.; Galera, May Ann M.; Juganas, Jolina C.; Medina, Hannah Yzabell B.; Bayani, Keneth G.; Gacayan, Daniel B.; Novencido, Rosa M.; Javonitalla, Josephine G.; Quinitip, Tiffany Ruth R.
Covid-19 pandemic has caused widespread health problems that have given rise to an economic crisis, its aftermath hitting the banking institutions. This study determined the challenges faced and strategies employed by universal banks during the COVID-19 pandemic. The study has undertaken quantitative methods in the analysis of respondents to determine the challenges and strategies of universal banks, data were gathered from six (6) universal banks in La Union in the form of questionnaires. Data were analyzed using frequency and percentage. Findings revealed that most of the banks are affected with the pandemic that causes challenges in implementation of health protocol, working schedules, number of employees, cyber security/ system failure, and transportation. Therefore, they adapt new strategies by developed staffing plans, hired new employees, and encouraging customers in digital adoption to continue in their operation.