97 applications for new banking offices approved in Q1

Businessworld - THE BANGKO Sentral ng Pilipinas (BSP) approved 97 applications for new banking offices in the first quarter.

Approved were 78 regular branches, 15 other banking offices, three extension offices, and one microfinance-oriented branch, according to Circular Letter No. 057, posted on the BSP web site yesterday.

Banks that made the applications included BDO Unibank, Inc., Metropolitan Bank & Trust Co., Land Bank of the Philippines, and Philippine National Bank.

In the previous quarter, the central bank approved 85 applications for new banking offices.

Circular Letter No. 057 also showed 136 new banking offices were opened during the first quarter, bringing the total number of head and other offices to 9,186 as of end-March.

Among those that opened new offices were East West Banking Corp., which opened 22 branches; Metrobank with nine branches; Card SME Bank, Inc.-A Thrift Bank with 13 microbanking offices and one regular branch; and First Consolidated Bank, Inc. with 13 other banking offices and five regular brances.

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