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Philippine central bank offers incentives to lenders for M&A

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Philippine central bank offers incentives to lenders for M&A

The Bangko Sentral ng Pilipinas said it would allow certain regulatory incentives for financial institutions involved in M&A of banks and quasi-banks.

Philippine lenders meeting the central bank's criteria may be eligible for incentives, including a temporary relief from complying with capital adequacy ratio requirements, permission to settle previous due obligation with the BSP over a 10-year period and staggered booking of unbooked valuation reserves for up to five years, among others.