News Snapshot:
Filipino conglomerate Gokongwei Group’s joint venture with South African digital lender TymeBank has won the green light to operate as one of the sixth digital bank in the Philippines. The joint venture, GoTyme Bank, says in a statement recently that it was certified to operate as a digital bank by the Philippine central bank on July 29. Gokongwei Group is a diversified conglomerate with businesses in food manufacturing, aviation, real estate, banking, petrochemicals and retail. The central bank issued the first digital licence to Tonik Digital Bank, a unit of Singapore’s Tonik Financial Pte Ltd, in June 2021. The other...
