300 accounts opened daily in digital-only OFW bank —CEO

Three hundred accounts are opened daily in the Overseas Filipino Bank (OFBank) which launched as a digital-only bank in late June, its president said Friday.

OFBank president and CEO Leila Martin said OFWs from several countries have opened accounts through the bank's online platform.

She said at the Laging Handa briefing that account holders can easily send money to their beneficiaries in the Philippines and pay bills online using the bank's application.

OFBank was created pursuant to an executive order signed by President Rodrigo Duterte in 2017.

It is a wholly-owned subsidiary of the Land Bank of the Philippines, which acquired the Philippine Postal Savings Bank to convert it into OFBank.

It was launched as a digital-only, branchless Philippine government bank on June 29. --KBK, GMA News