BSP mulls increasing slots for digital banking licenses

The Monetary Board may consider increasing the number of slots for new digital banking licenses depending on market demand and the value propositions of applicants, an official from the Bangko Sentral ng Pilipinas said.

- Keisha Ta-asan

BSP Deputy Governor Chuchi Fonacier said while the central bank plans to stick to its plans to open applications for four new digital banking licenses on Jan. 1, 2025, the Monetary Board is open to increasing the slots.

"It will be up to the Monetary Board... Does (an applicant) have a good value proposition? (If so,) we may go beyond the four (slots)," Fonacier told reporters late Monday.