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October 01, 2023

Roland Avante says Philippine Business Bank affected by e-sabong closure

The Bankero said that the shutdown of select online cockfighting in the country affected the revenue stream of their firm.

Philippine Business Bank, which has existing agreements with e-sabong centers, said that they had been gravely affected by the closure of online cockfight centers.

Bankero Mr. Roland Avante, PBB President, said that they have prepared for the potential withdrawal of a major customer, and said they have felt the industry’s US$1 billion shutdown effect. He further added that while cockfighting in general is still in operation in the country, the game facilitated some of its branches’ income stream.

eSabong shutdown affected bank


BSP disqualifies unregistered money service business

The Bangko Sentral ng Pilipinas (BSP) has disqualified Riyben Foreign Exchange for operating an unregistered money service business, part of BSP’s ongoing efforts to curb unauthorized MSBs, following similar actions taken against six other firms earlier this year.

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