Agree. This will be my last post on this as the discussion is merely speculative. However, I must point out that your math is out...
"Of the total number of applications, Diokno said the central bank is now evaluating 18 applications, while one has been approved. On the other hand, 17 applications have been returned due to incomplete and insufficient information submitted, the BSP chief said."
Daily Price Movement / General Discussion, page-303
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