BAP chief: Digital banks still challenged

Aug 05, 2024 12:18 am

THE Philippine digital banking sector continues to face challenges due to lack of physical presence, the chief of the Bankers Association of the Philippines (BAP) said, with some banks remaining unprofitable.

'I think digital banks have their purpose. They help financial inclusion, but they also have a challenge,' BAP President Jose Teodoro Limcaoco told reporters late on Friday.

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