GOV'T OPENS OFW BANK
Months before his two years in office, President Rodrigo Duterte was happy to deliver one of his campaign promises - the Overseas Filipino Bank.
Its launching was held Thursday at the Postbank Center in Manila.
The Overseas Filipino Bank was created to help improve services for migrant workers and their families – these range from deposits, loans and investments, to remittances and payment services.
President Duterte signed Executive Order 44 last September 2017 that approved the acquisition of the Philippine Postal Savings Bank (PPSB) by the Land Bank of the Philippines (LBP).
The said acquisition allowed the LBP to convert the PPSB to Overseas Filipino Bank.