BANKS will no longer have difficulty in identifying prospective investors and investees with the aid of Philippine Deposit Insurance Corporation’s (PDIC) Investor-Investee Help Desk.
In a statement, PDIC said that the helpdesk will make it easier for investors looking for banks to acquire, merge, consolidate with, or invest in. It will also help identify investees or banks seeking interested acquirers and vice versa.
PDIC Jose Nograles said that through mergers, consolidations and acquisitions, banks can achieve higher lending capacities and economies of scale and improve the quality of their services.
The helpdesk is part of PDIC’s thrust to promote mergers, consolidation and acquisition in the local banking industry to develop a sound and stable system and maintain financial stability in the country.
The help desk is provided to banks for free. It will help banks identify prospective investors and investees, based on the information on investor’s preferences and investee’s attributes such as bank type, asset size, number of branches and location of head office.
The help desk will help banks with capital deficiency problems and those that are looking for potential acquisitions.
The investor-investee help desk will complement the Strengthening Program for Rural Banks (SPRB), which gives financial incentives and assistance to investors who are willing to acquire capital-deficient banks. The assistance comes from a P5 billion pooled fund. SPRB is a joint initiative of the PDIC and the Bangko Sentral ng Pilipinas.