Philippines to cap digital bank licences in the country to seven, for now

Philippines to cap digital bank licences in the country to seven, for now

Photo: Nathan Dumlao / Unsplash.com

The Philippines central bank on Thursday said it will stop accepting digital bank licence applications next month and will cap the number of players to seven for now.

The move will allow regulators to monitor the performance of the new players aiming to challenge the country’s traditional lenders, central bank Gov. Benjamin Diokno said.

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