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Digital banks struggling to stay afloat, says S&P

By Inquirer - 10 months ago
MANILA, Philippines  -Digital banks are unlikely to turn a profit anytime soon as they grapple with bad loans and high operating costs, all the while the local banking sector is expected to ride a “robust” economic growth this year, S&P Global Ratings said. “Digital banks’ asset quality should stay significantly weaker than the sector,” the

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