The central bank reported that at least 15 rural banks are slated for merger or consolidation under the Strengthening Program for Rural Banks (SPRB) Plus initiative.
Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said that as of June 30, 2014, seven merger/consolidation applications involving 15 banks have received regulatory approval by the Philippine Deposit Insurance Corp. (PDIC) and were being processed by the central bank.
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