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2 digital banks to start this year – BSP – Manila Bulletin


Published April 29, 2021, 4:40 PM
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expects to have two online-only banks with digital bank license to start operation by the second half of 2021, including Overseas Filipino (OF) Bank.
Diokno said another two new digital banks with no existing banking license from the BSP are expected to start their business by middle of 2022 after completing the BSP’s pre-operating requirements and compliance to the P1 billion minimum capital.
BSP Governor Benjamin E. Diokno (Credit: BSP photo)
So far, Diokno said they have received four formal applications for digital bank license including OF Bank, a subsidiary of state-owned Land Bank of the Philippines, and this application has been approved last March 25. ....

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