PDIC urges rural banks to consolidate

ABS-CBN News

Posted at Jun 18 2018 04:40 PM

Watch more in iWant or TFC.tv

MANILA -- Consolidation among rural banks can help make financial services more accessible to lower income classes, the head of the Philippine Deposit Insurance Corporation (PDIC) said on Monday.

Mergers will strengthen rural banks and expand their client base, PDIC president Robert Tan told ANC. The PDIC is working with the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission to encourage this, he said.

"This makes them more viable, more flexible as well as undertaking greater risks to be able to encompass the lower income sector society," Tan said.