Cap on digital banks to benefit existing players

By Mayvelin U. Caraballo

Aug 27, 2021 1:15 am

FITCH Ratings said the decision of the Bangko Sentral ng Pilipinas (BSP) to stop accepting new applications for digital bank licenses is beneficial to existing institutions.

'Closing the door to new applicants helps to insulate conventional banks from more formidable competitors bearing these characteristics - at least until BSP's moratorium on applicants is lifted,' it said in a Thursday commentary.

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