Lifting of BSP freeze makes way for maximum 10 digital banks

Quick Summary:

A MAXIMUM of 10 digital banks will now be allowed to operate in the Philippines as a result of the lifting of the Bangko Sentral ng Pilipinas (BSP) moratorium on the establishment of these banks.

Earlier, the BSP said a rural bank that is partly owned by a foreign firm and a European digital bank could be among those that could be granted digital banking licenses next year.

The move includes the conversion of an existing bank’s license to a digital bank license.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: Philippines

Topics: Financial Digital Assessment Bank Existing Banking Sentral Bangko Banks License Requirements

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-27 @ 16:03:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 648 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 24695874

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 1 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 10 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

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Publisher ID: #37

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