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BSP approves 125 new bank branches, offices

By: - Reporter / @bendeveraINQ
/ 12:24 AM December 31, 2015

The Bangko Sentral ng Pilipinas (BSP) has approved the opening of 125 more bank branches as well as offices across the country.

Circular Letter No. CL-2015-077 issued last week showed that the BSP had approved the application of the following universal and commercial banks to open new regular branches as well as extension offices: BDO Unibank Inc. (nine regular branches); China Banking Corp. (one regular branch); Development Bank of the Philippines (one regular branch and 10 extension offices); Land Bank of the Philippines (one regular branch and eight extension offices); and Robinson Bank Corp. (five regular branches).

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Among thrift banks, the BSP approved the following additional branches and offices: BPI Family Savings Bank Inc. (19 regular branches); First Consolidated Bank Inc. (seven regular branches); Philippine Savings Bank (one regular branch); Optimum Development Bank Inc. (eight regular branches); and Northpoint Development Bank (28 microbanking offices).

Also approved by the BSP were new branches and offices of rural and cooperative banks, as follows: East West Rural Bank Inc. (seven regular branches, 10 extension offices, and four regular other banking offices); New Rural Bank of San Leonardo (Nueva Ecija) Inc. (five regular branches); and Rural Bank of Medina (Misamis Oriental) Inc. (one regular other banking office).

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The BSP also noted that during the third quarter, additional offices as well as branches were opened by commercial and universal banks, such as BDO (10 regular branches); China Bank (nine regular branches); DBP (one regular branch); East West Banking Corp. (two regular branches); Land Bank (one extension office); Metropolitan Bank and Trust Company (one regular branch); Philippine Bank of Communications (one regular branch); Philippine Trust Company (one regular branch); Robinsons Bank (six regular branches); Security Bank Corp. (one regular branch); Sumimoto Mitsui Banking Corp. (head office); and Union Bank of the Philippines (one regular branch).

As for thrift banks, newly opened branches and offices in the third quarter were of the following: Card SME Bank Inc. (two regular branches and two microbanking offices); China Bank Savings Inc. (one regular branch); City Savings Bank Inc. (four regular branches and 11 regular other banking offices); First Consolidated Bank (one regular branch); Philippine Business Bank Inc. (one regular branch); and PNB Savings Bank (one regular branch).

Also opened between July and September were offices and branches of the following cooperative and rural banks: Card Bank Inc. (two microbanking offices); Country Builders Bank (one regular branch); East West Rural Bank (five regular other banking offices); First Isabela Cooperative Bank (three regular branches); Rural Bank of Balungao Inc. (one extension office); Rizal Bank Inc. (one microfinance-oriented branch); Rural Bank of Placer (Surigao Del Norte) (two microbanking offices); and Summit Bank (Rural Bank of Tublay Inc.) (three regular branches).

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TAGS: Bangko Sentral ng Pilipinas, bank branches, Bank of the Philippine Islands, Banking, BDO, BDO Unibank, BPI Family Savings Bank, Philippine banking system, Security Bank
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