6 more Asian banks seek PH entry – BSP

Six banks from Asia are interested in setting up operations in the Philippines, Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said at the annual reception for the banking community held Tuesday night.

“We thank Congress for its full support of initiatives liberalizing foreign entry into the banking system. This eventually became law, specifically RA [Republic Act] 10574 and RA 10641. On the latter, we are happy to report that nine banks have entered the Philippine banking industry thus far, with six more banks expressing interest,” he said.