BSP expected to allow rural, thrift banks to do cross-selling
By Michelle V. RemoThe Bangko Sentral ng Pilipinas is issuing a regulation that will allow thrift and rural banks to engage in cross-selling of financial instruments.
The Bangko Sentral ng Pilipinas is issuing a regulation that will allow thrift and rural banks to engage in cross-selling of financial instruments.
A person whose bank deposit amounts to P15,000 or below need no longer go through the process of filing for an insurance claim in the event of a bank closure, according to the Philippine Deposit Insurance Corp.
THE BANGKO Sentral ng Pilipinas said rural banks will soon be subjected to “stress tests,” noting that bank system failures may also be triggered by the closure of small banks.
A string of acquisitions in the banking sector may be in the offing, with several large banks expressing interest to take over undercapitalized rural banks.
The rural banking sector’s exposure to bad debts rose in the third quarter of 2011, breaking into the double-digit territory, the Bangko Sentral ng Pilipinas reported Friday.
Xpress Money, a global money transfer firm, seeks to expand its presence in the Philippines by entering into partnership deals with rural banks nationwide.
Commercial and thrift banks are urged to acquire troubled rural banks, with regulators offering various incentives to potential white knights in a bid to end costly failures in the rural banking sector. The Bangko Sentral ng Pilipinas announced Wednesday that the Strengthening Program for Rural Banks (SPRB), under which incentives are granted to encourage acquisition [...]
The exposure of thrift banks to bad debts shrank, but that of rural and cooperative banks grew in the first quarter, as the entire banking industry extended more loans to individuals and enterprises.
A group of rural banks in the country lauded efforts of Congress to draft a law that will allow the sector to accept foreign capital.
The rural banking sector is inclined to pursue the consolidation of small industry players in a bid to gain financial strength and attract foreign investors. Rural banks are currently prohibited by law to have foreign shareholders, but the Rural Bankers Association of the Philippines (RBAP) is convincing Congress to pass a bill that will allow [...]
Rural banks, which provide financial services in the countryside, are now allowed to put up more branches in Metro Manila. The Bangko Sentral ng Pilipinas said in a circular that rural banks may now put up more than one branch in Metro Manila, as long as they engage in microfinance and meet the required capitalization. [...]
