INQUIRER: 5 foreign banks shut down Philippine offices
-The Bangko Sentral ng Pilipinas said the asset sale was meant to help the financially troubled parent firms generate liquidity. In a circular notifying the local banking industry, the BSP said the five foreign banks have already packed up and and left. Apart from American Express Bank, the others were Societe General, Union Bank of California N.N, First International Bank and Fortis Bank.
-The Bangko Sentral ng Pilipinas said the asset sale was meant to help the financially troubled parent firms generate liquidity. In a circular notifying the local banking industry, the BSP said the five foreign banks have already packed up and and left. Apart from American Express Bank, the others were Societe General, Union Bank of California N.N, First International Bank and Fortis Bank.
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