MANILA -- Philippines President Rodrigo Duterte has ordered the creation of a bank dedicated to servicing the financial needs of some 10.24 million Filipinos working overseas, it was announced on Monday.
In late September, Duterte signed an executive order authorizing state-owned Land Bank of the Philippines (Landbank) to acquire Philippine Postal Savings Bank, a state bank created to promote rural economic development, and to relaunch it as the Overseas Filipino Bank.
