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Bangko Sentral wants say in entry of new investors in local banks.
Byline: Michelle V. Remo
THE BANGKO SENTRAL NG PILIPINAS wants to regulate equity infusion into local banks by new investors to help rid the industry of unscrupulous and unfit players.
BSP Governor Amando Tetangco Jr. said the central bank wanted banks to seek its prior approval before accepting capital from new investors. He said the proposal formed part of the proposed amendments to the BSP charter.
In a speech during a forum on corporate governance yesterday, Tetangco said giving the BSP a say in the process of accepting new investors in banks would help preserve the integrity of the banking industry. The BSP wants to make sure unscrupulous individuals …
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