Wednesday 24 January
Powered by Ajaxy
Aug 28, 2017 @ 18:40

8 more foreign banks keen on PH market

 

Eight Asian banks have indicated interest to set up shop in the Philippines, the head of the Bangko Sentral ng Pilipinas said.

BSP Governor Nestor A. Espenilla Jr., said the Philippines has become an investment destination for foreign banks in Asia due to its strong economic fundamentals and growth potential.

Espenilla said some of these banks would establish a representative office while some would expand operations here.

“Representative offices are mainly focused on marketing. It is also important because rep offices are also useful in drawing in investments into the country But if they see a really good market demand it may progress into a branch application,” he said.

The BSP has so far given nine foreign banks the green light to operate in the Philippines. These are the First Commercial Bank of Taiwan, Sumitomo Mitsui of Japan, Shinhan Bank of South Korea, Cathay United Bank of Taiwan, the Industrial Bank of Korea, Yuanta Bank of Taiwan, the United Overseas Bank Ltd. of Singapore, Seoul-based Woori Bank, and Hua Nan Commercial Bank Ltd. of Taiwan.

Tags: , , , , , , , , , , , , , , ,

Related Stories
Authorities in Shanghai are investigating hotel giant Marriott after it triggered an online uproar with
It's a nation that boasts warm azure seas and dream beaches, a landscape ranging from
A tiny replica of an ancient Egyptian sarcophagus and a plastic cat squatting on sushi:
They won't let these animals get out in the wild just yet.


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - bilyonaryo.com.ph.