trending Market Intelligence /marketintelligence/en/news-insights/trending/3gwU4x5J9lX7dFMtbQ9peg2 content esgSubNav
In This List

TONIK Financial unit obtains banking license in the Philippines

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


TONIK Financial unit obtains banking license in the Philippines

Singapore-based TONIK Financial Pte. Ltd. said its Philippine subsidiary, TONIK Digital Bank Inc., has obtained approval for a banking license from the Bangko Sentral ng Pilipinas.

The move makes TONIK Digital Bank the first digital-only branchless bank licensed platform in the Philippines, according to a Jan. 7 release.

The license will enable TONIK Financial to provide a full range of retail banking services, focused primarily on retail deposits and consumer loans, starting in 2020.