The Bangko Sentral ng Pilipinas (BSP) in a circular said that it has approved the applications of various banking entities for branch expansions, while 32 banking entities have opened new banking offices in the country during the third quarter of 2013.
In a circular signed by BSP Deputy Governor Nestor Espenilla Jr., the central bank said that it has approved the application of new banking offices of eight universal and commercial banks, five thrift banks and nine rural and cooperative banks.
The BSP approved the application of Asia United Bank (AUB) for 26 regular branches; six regular branches and one regular other banking office (OBO) of Banco de Oro (BDO) Unibank Inc.; three regular branches of Development Bank of the Philippines; East West Banking Corp.’s 54 regular branches; two regular branches of the Land Bank of the Philippines; six regular branches of Metropolitan Bank and Trust Co.; one regular branch of Rizal Commercial Banking Corp. (RCBC) and three regular branches of Robinsons Bank Corp.
Approved banking offices of thrift banks were one regular branch of Century Savings Bank Corp.; six OBO of First Consolidated Bank Inc.; an extension office and one regular branch of RCBC Savings Bank Inc.; one regular branch of Tower Development Bank; and 11 OBO of UCPB Savings Bank.
The BSP circular also said that the approved banking offices of rural and cooperative banks were four OBO of Bank of Makati (A Rural Bank) Inc.; one regular branch and an extension office for Bankways Inc.; one regular branch of Common Wealth Rural Bank Inc.; five microbanking office (MBO) of Mt. Carmel Rural Bank Inc.; one regular branch of Rural Bank of Cauayan Inc.; two MBOs of Rural Bank of Gattaran Inc.; two MBOs of Rural Bank of Lebak Inc.; two OBO of Rural Bank of Manolo Fortich Bukidnon Inc; and one regular branch of Rural Bank of Tabuk Inc.
Meanwhile, the BSP circular also showed that 14 universal and commercial banks, 10 thrift banks, and eight rural and cooperative banks have opened various banking offices.
The circular added that AUB, BDO Unibank Inc., Philippine National Bank have reopened one regular branch each, while City Savings Bank reopened one extension office.