BSP OKs 11 bank branches in Q4
THE BANGKO SENTRAL ng Pilipinas (BSP) approved 11 regular bank branches in the fourth quarter.
The Monetary Board okayed applications for new banking offices of seven banks — three universal and commercial banks, two thrift banks and two rural and cooperative banks — in the fourth quarter, according to a circular letter dated May 7.
The BSP also approved applications to set up 13 branch-lite units in the period.
The central bank allowed Security Bank Corp. to open five new regular branches located in cities in Pampanga, Bacolod, Rizal, Batac City and Tandag City. It also approved the bank’s branch-lite unit in Pasay City.
The Monetary Board also approved the application of the Philippine Trust Co. to put up four regular branches located in General Santos City, Muntinlupa City, Tarlac City and Tuguegarao City.
Bank of Commerce was also allowed to open five branch-lite units — three in Pasay City, one in General Trias City, and another in Malay, Aklan.
Meanwhile, the BSP also approved First Consolidated Bank, Inc.’s application to set up a regular branch in Capiz.
Legazpi Savings Bank, Inc. also secured approval for six branch-lite units located in Butuan City, Misamis Oriental, Davao City, Koronodal City, Pagadian City and Leyte.
The central bank also granted the application of East West Rural Bank, Inc. for a regular branch in Davao City. It also allowed the opening of a branch-lite unit for Rural Bank of Rizal (Zamboanga del Norte), Inc. in Lapu-Lapu City.
Meanwhile, sixteen lenders opened new banking offices during the fourth quarter.
Among universal and commercial banks, BDO Unibank, Inc. opened 12 regular branches during the period while Security Bank opened 13 regular branches and one branch-lite unit. — Luisa Maria Jacinta C. Jocson
