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MANILA, Philippines — The Philippines’ digital banking sector has gained another player after the central bank approved MariBank Philippines Inc.’s transition from a rural bank into a full-fledged digital bank.
In a resolution dated July 22, the Bangko Sentral ng Pilipinas said it issued MariBank’s new license on July 8.
READ: BSP on guard as digital banks face profit strain
The Securities and Exchange Commission approved on June 16 the amendments to the bank’s articles of incorporation and bylaws reflecting its digital banking status.
