The Monetary Board of the Bangko Sentral ng Pilipinas has approved the upgrade of the commercial banking license of the Philippine Bank of Communications to a universal bank, subject to regulatory requirements. The license upgrade provides additional capabilities for PBCOM to invest in non-allied enterprises and allows the bank to expand product and service offerings. Attending the ceremony are (from left) PBCOM vice chairman Leonardo Dayao, executive committee chairman Lucio Co, BSP Deputy Governor Chuchi Fonacier, PBCOM chairman Eric Recto, BSP Governor Benjamin Diokno, PBCOM president and chief executive Patricia May Siy, independent director Bienvenido Laguesma and board adviser Robert Juanchito Dispo.
