BSP approves 16 new bank branches
THE BANGKO SENTRAL ng Pilipinas (BSP) approved 16 new regular bank branches in the first quarter.
The Monetary Board okayed the applications of seven banks — two universal and commercial banks and five rural and cooperative banks — to set up a total of 16 new banking offices in the period, according to a circular letter dated July 16.
The circular showed that the central bank allowed BDO Unibank, Inc. to open six new regular branches located in Caloocan City; Calumpit, Bulacan; Cebu City; Surigao City; Toledo City; and Zamboanga City.
The Monetary Board also approved the application of Security Bank Corp. to put up seven regular branches located in Cadiz City; Concepcion, Tarlac; Davao City; Naic, Cavite; Quezon City; San Mateo, Rizal; and Tagaytay City.
BDO Network Bank, Inc. (A Rural Bank) was also allowed to open a regular branch in Bongao, Tawi-Tawi.
Cebuana Lhuillier Rural Bank, Inc. was also allowed to set up a regular branch in Tanjay City, while Rural Bank of Solano (Nueva Vizcaya), Inc. got the BSP’s approval to open a branch in Diffun, Quirino.
BRANCH-LITE UNITS
Meanwhile, the BSP also approved applications for 31 new branch-lite units in the period.
BDO Unibank and Security Bank secured approval to open two branch-lite units each. BDO’s branch-lite units will be located in Sorsogon City and Tagum City, while Security Bank’s are both in Makati City.
The central bank also granted the application of Bayanihan Rural Bank, Inc. to open a branch-lite unit in Date, Camarines Norte.
It likewise approved BDO Network Bank’s proposal for 26 branch-lite units in several locations nationwide, including Tawi-Tawi, Cebu, Iloilo, Davao, North Cotabato, Bukidnon, Pangasinan, Aklan, and Negros Oriental, among others.
Lastly, CARD Bank, Inc. obtained BSP approval to open an Islamic branch in Marawi City.
Meanwhile, a total of eighteen lenders opened new banking offices during the first quarter. These offices included regular branches, branch-lite units, and a microfinance-oriented branch.
Bank of the Philippine Islands, BDO Unibank, BDO Private Bank, Inc., China Banking Corp., Development Bank of the Philippines, Rizal Commercial Banking Corp., and Security Bank were among the universal and commercial banks that opened new offices during the quarter. — Luisa Maria Jacinta C. Jocson
