• BSP approves 108 new bank offices

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    The Bangko Sentral ng Pilipinas (BSP) has allowed various lenders to open 108 new banking offices nationwide.

    In a circular signed by Deputy Governor Nestor Espenilla Jr., the central bank said that in the fourth quarter of 2015, it approved applications filed by four universal and commercial banks, four thrift banks, and four rural and cooperative banks.

    It approved the application of Banco de Oro (BDO) Unibank Inc. for six regular branches to be located in Butuan City, Carmona, Cavite, Malolos City, Digos City, Cebu City, and Cabanatuan City.

    Land Bank of the Philippines was allowed to put up three regular branches in Liloy, Zamboanga del Norte, Hilongos, Leyte, Samal Island, Davao del Norte, an extension office in Aurora, Zambonga del Sur, and three regular other banking offices (OBO) in Bongabong, Oriental Mindoro, Dupax del Sur, Nueva Vizcaya, and Magsaysay, Misamis Oriental.

    Metropolitan Bank and Trust Co., meanwhile, was given the green light to put up a regular branch in Lapu Lapu City.

    The central bank also allowed the Rizal Commercial Banking Corp. (RCBC), to open a regular branch in Bacoor City.

    The thrift banks that were allowed to open new banking offices were: Bank of Makati (six regular branches); Card SME Bank Inc. (11 microbanking offices [MBO]); Philippine Savings Bank (seven regular branches); and Producers Savings Bank Corp. (six regular braches).

    For rural and cooperative banks, approvals were secured by Banco Dipolog Inc. (one extension office); Card Bank Inc. (29 MBOs); Cooperative Bank of Cotabato (three MBOs); and Rizal Bank Inc. (30 MBOs).

    Meanwhile, the BSP circular also said lenders opened 149 various banking offices during the quarter.

    The universal and commercial banks with new offices were: BDO Private Bank (one regular OBO), BDO Unibank Inc. (19 regular branches), China Bank (23 regular branches), Development Bank of the Philippines (three regular branches), Land Bank of the Philippines (four regular branches, three extension offices, and four regular OBOs), Metrobank (five regular branches), RCBC (seven regular branches), Robinsons Bank Corp. (eight regular branches), Security Bank Corp. (three regular branches), and Union Bank of the Philippines (two regular branches).

    Opening one office during the period were Asia United Bank Corp., Cathay United Bank Co. Ltd. Manila Branch, East West Banking Corp., Industrial Bank of Korea, and Shinhan Bank Manila Branch.

    Lastly, eight thrift banks opened 29 offices, while nine rural and cooperative banks opened 33 offices.

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