BSP approves 125 new bank branches, offices

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).

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).

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).