The Central Bank of the Philippines issued a circular letter listing approved applications for new banking offices and banking offices that opened during the first quarter of 2025. The disclosure covers universal and commercial banks, thrift banks, and rural and cooperative banks, with office types including regular branches, branch-lite units and specialised formats. Approvals for new offices totalled 48, led by BDO Network Bank with 27 locations (including a regular branch in Bongao, Tawi-Tawi and multiple branch-lite units), Security Bank with nine (seven regular branches and two branch-lite units in Makati City), and BDO Unibank with eight (six regular branches and two branch-lite units). Other approvals included a CARD Bank Islamic branch in Marawi City and additional regular branches for Cebuana Lhuillier Rural Bank and Rural Bank of Solano. The circular also lists 49 offices that opened in the quarter, led by BPI Direct BanKO with 16 branch-lite units and BDO Network Bank with 10 branch-lite units, alongside openings by BDO Unibank (three regular branches), Rizal Commercial Banking Corporation (two regular branches) and other banks across multiple cities and municipalities.
Central Bank of the Philippines 2025-07-16
Central Bank of the Philippines reports 48 approvals for new banking offices and 49 openings in first quarter of 2025
The Central Bank of the Philippines issued a circular letter detailing approved applications for 48 new banking offices and 49 openings during Q1 2025. BDO Network Bank led approvals with 27 locations, followed by Security Bank and BDO Unibank. The disclosure includes universal, commercial, thrift, rural, and cooperative banks, covering regular branches, branch-lite units, and specialized formats.