Rizal Bank Closes Italy Remittance Operations, Impact Minimal
Source: BFW (Bloomberg First Word)
Tickers
RCB PM (Rizal Commercial Banking Corp)
To de-activate this alert, click here
UUID: 7947283
(Bloomberg) -- Rizal Commercial Banking closed its remittance operations in Italy because it couldn’t meet on time computer system capability required by Banca D’Italia, Philippine lender says in statement.
Alert: HALISTER1- Close not related to issue on money laundering, Rizal Bank says, referring to $81m stolen funds from Bangladesh central bank
- Impact of closure on operations and profitability minimal as it is relatively low-margin business with high operating costs
- NOTE: Rizal Bank Widens Probe on Heist to Include 4 Senior Officials Link
Source: BFW (Bloomberg First Word)
Tickers
RCB PM (Rizal Commercial Banking Corp)
To de-activate this alert, click here
UUID: 7947283