The Central Bank of the Philippines issued a circular letter informing BSP-supervised financial institutions that BDO Network Bank, Inc. (BDONB) has upgraded its banking licence from a rural bank to a thrift bank and changed its trade names, and that it commenced operations as a thrift bank on 5 May 2025. The Monetary Board approved BDONB’s request to upgrade its licence under the same corporate name through Resolution No. 128 dated 27 January 2022. Following the licence change, BDONB adopted the trade names BDO Network Bank, a Savings Bank; BDO Network, A Savings Bank; and BDO Network Bank. The Securities and Exchange Commission approved the amended Articles of Incorporation and By-Laws reflecting the thrift banking licence on 27 December 2024, and the Bangko Sentral Governor issued the corresponding Certificate of Authority to Operate as a thrift bank on 5 February 2025.
Central Bank of the Philippines 2025-05-08
Central Bank of the Philippines confirms BDO Network Bank upgrade to a thrift bank licence and new trade names
The Central Bank of the Philippines announced that BDO Network Bank, Inc. upgraded its banking licence from a rural bank to a thrift bank, commencing operations under new trade names on 5 May 2025. The Monetary Board approved the upgrade through Resolution No. 128, and the Securities and Exchange Commission amended the Articles of Incorporation and By-Laws. The Bangko Sentral Governor issued the Certificate of Authority to Operate as a thrift bank on 5 February 2025.