MB relaxes guidelines on banks’ branch expansion

BANKS may now put up branches in strategic locations more easily after the Monetary Board (MB) approved the amendments to the guidelines on the establishment of branches.

In a statement over the weekend, the Bangko Sentral ng Pilipinas (BSP) said the amendments to the guidelines will provide banks with more flexibility in expanding their branch network to strategic locations, “consistent with the BSP’s policy of promoting a competitive banking environment and ease of doing business.”