The central bank has approved the opening of new branches for several local banks in the coming months, in line with efforts for the promotion of a more inclusive financial system.
MANILA, Philippines—The Gotianun-led East West Bank doubled the number of its branches to 245 in 2012 in line with plans to build a 350-strong local distribution channel to support further growth objectives by 2014. In a disclosure posted on the Philippine Stock Exchange on Monday, EastWest said it opened 123 new branches—which the bank [...]
Land Bank of the Philippines said it would open 20 new branches this year to reach areas that were deemed underserved by the banking industry.
The Bangko Sentral ng Pilipinas has approved the opening of over 100 new bank branches, hoping to improve accessibility of financial services in the country.
Sixty-two more branches and offices of existing commercial, thrift and rural banks opened in the second quarter alone, a development the Bangko Sentral ng Pilipinas said was an indication of improving accessibility of financial services in the country. In a report, the BSP said the 62 additional bank branches are situated in and outside the [...]
