Gross non-performing loans climbed to ₱585.08 billion in July even as total overdue loans declined.
The ruling puts the consequences of such serious banking errors on the bank rather than the depositor.
eWallets and digital banks are gaining ground as financial concerns persist and more Filipinos look for ways to save, pay and borrow.
Pricing guidelines allow cost-based fees, not a zero-fee mandate.
The central bank says entity is not licensed, authorized, regulated, or supervised by the BSP.
SEC and BSP approve the merger, with clients assured that banking services and accounts will continue as usual.
The Aboitiz-led lender posted a 113% jump in first-half earnings as higher consumer loans, deposits, and everyday banking transactions continued to drive growth.
The central bank is reviewing institutions that have yet to comply with its lower transfer fee policy as it pushes for more affordable digital payments and wider financial inclusion.
The bank set aside ₱13.3 billion to cover loans it expects may not be repaid, citing a weaker macroeconomic outlook.
Thrift banks, with ₱1.4 trillion in assets, are well-positioned to serve more borrowers as demand for consumer lending continues to rise.
