• BSP approves 125 new banking offices

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    The Bangko Sentral ng Pilipinas (BSP) has allowed various lenders to open 125 new banking offices nationwide.

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

    It approved the application of Banco de Oro (BDO) Unibank Inc. for nine regular branches to be located in Bacoor City; Kidapawan City; Bustos, Bulacan; Malaybalay City; Davao City; Santa Maria, Bulacan; Bacolod City; Cebu City and Tacloban City.

    China Banking Corp. (China Bank), meanwhile, was given the green light to put up a regular branch in Muntinlupa City.

    The central bank also allowed the Development Bank of the Philippines (DBP) to open a regular branch in Claver, Surigao del Norte and extension offices in Naguillan, La Union; Tumauini, Isabela; San Jose del Monte City; Mogpog, Marinduque; Placer, Masbate; Siaton, Negros Oriental; Bayugan City; Banga, Alklan; and M’lang, Cotabato.

    Land Bank of the Philippines was allowed to put up a regular branch in General Trias, Cavite; and eight extension offices in Taguig City; Mangaldan, Pangasinan; Binalonan, Pangasinan; Silay, Negros Occidental; Consolacion, Cebu; Silang, Cavite; Calamba, Misamis Occidental; and San Nicolas, Ilocos Norte.

    Robinsons Bank was allowed to establish five regular branches in San Jose, Antique; Iloilo City; Tagum City; Cebu City; and Legazpi City.

    The thrift banks that were allowed to open new banking offices were: Bank of the Philippine Islands (BPI) Family Savings Bank Inc. (19 regular branches), First Consolidate 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 [MBO]).

    For rural and cooperative banks, approvals were secured by East West Rural Bank, Inc. (seven regular branches, 10 extension offices and four regular other banking offices), New Rural Bank of San Leonardo (five regular branches) and Rural Bank of Medina (one regular other banking office).

    Meanwhile, the BSP circular also said lenders opened 75 various banking offices during the quarter.

    The universal and commercial banks with new offices were: BDO Unibank Inc. (10 regular branches), China Bank (nine regular branches) and Robinsons Bank Corp. (six regular branches).

    Opening one office during the period were the DBP, East West Banking Corp., LandBank, Metropolitan Bank and Trust Co., Philippine Bank of Communications, Philippine Trust Co., Security Bank Corp., Sumitomo Mitsui Banking Corp. and Union Bank of the Philippines.

    Lastly, six thrift banks opened 23 offices, while 8 rural and cooperative banks opened 18 offices.

    MAYVELIN U. CARABALLO

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