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September 24, 2023

BSP Governor Medalla welcomes Eli Remolona as next central bank chief

Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla has expressed confidence in the appointment of Eli Remolona as the next central bank governor.

In a late Friday statement, Medalla stated that Remolona’s extensive international experience in central banking affirms his capabilities as the future BSP chief.

Medalla expressed his gratitude to President Ferdinand Marcos Jr. for the opportunity to serve as the central bank governor, considering it the best chance to make a positive impact and serve the Filipino people.

Remolona will become the 7th BSP Governor since the enactment of the New Central Bank Act in 1993 as Medalla’s term expires on July 2.

meta: Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla expresses confidence in the appointment of Eli Remolona. citing his international experience in central banking.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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