BSP OKs 143 applications for new bank offices
MANILA, Philippines – A total of 143 applications for new bank offices were approved by the Bangko Sentral ng Pilipinas (BSP) during the second quarter.
The central bank, in its Circular Letter 2013-058, said the application of six universal and commercial banks, six thrift banks, and 13 rural and cooperative banks were approved from April to June.
BSP Deputy Governor Nestor A. Espenilla, Jr. said the approvals show “the strength and vitality of the banking system.
“This will also further financial inclusion," he said.
Among the banks with approved applications are BDO Unibank Inc., China Banking Corp., China Bank Savings Inc., Metropolitan Bank & Trust Company, Philippine Bank of Communications, Philippine Business Bank Inc., Philippine Savings Bank, RCBC Savings Bank Inc., Rizal Commercial Banking Corp., Robinsons Bank Corp., Security Bank Savings Corp. and Sun Savings Bank Inc.
BSP said a total of 85 new branches and offices were also opened during the second quarter, including branches and offices of Asia United Bank Corp., BDO Unibank Inc., China Banking Corp., Development Bank of the Philippines, East West Banking Corp., Land Bank of the Philippines, Maybank Philippines Inc., Philippine Trust Company, Rizal Commercial Banking Corp., Robinsons Bank Corp., and Security Bank Corp.
Twelve thrift banks and 10 rural and cooperative banks also opened new branches during the same period.
BSP said that as of June, there are 9,543 bank offices in the country, 683 of which are head offices while 8,860 are branches and other offices.