Fitch: PH has huge potential for digital banks

Fitch Ratings has tagged the Philippines as having one of the “largest market potential” among major Southeast Asian markets for aspiring digital-only banks, as it has a huge unbanked population.

In a report on Thursday, the New York-based credit rating agency said banking competition would intensify in the region as virtual banks enter the market, with regulators beginning to accept applications or studying digital-bank frameworks.

Read more: The Manila Times