BSP Memorandum No. 32 (2025)
Closure of Application Window for Establishment of Digital Banks
BANGKO SENTRAL NG PILIPINAS
OFFICE OF THE GOVERNOR
MEMORANDUM NO. M-2025-032
To i All Digital Bank Applicants
Subject: Closure of Application Window for Establishment of Digital Banks
The Monetary Board, in its Resolution No. 927 dated 18 September 2025,
approved the closure of the application window for establishment of digital banks starting O01 December 2025.
Digital bank applications received by the Bangko Sentral until 30 November 2025 will be processed on a first-come, first-served basis. Each application will be assessed for completeness and _ sufficiency of submitted documentation or information, as well as compliance with the licensing criteria on the establishment of digital banks. Applicants are expected to ensure adherence with the documentary and chartering pre-qualification requirements of the Bangko Sentral.
Applications received by 30 November 2025 with noted deficiencies in documentary requirements and/or licensing criteria will be returned and considered closed. After the said date, the Bangko Sentral will no longer accept and process new or returned applications.
In line with this, the Bangko Sentral will conduct a thorough and parallel assessment of all digital bank applicants as part of ongoing efforts to strike a balance
between fostering digital innovation and ensuring the continued stability and competitiveness of the financial system.
For guidance and implementation.
ELI M. REMOLONA, JR.
Governor
25 September 2025