The Central Bank of the Philippines issued a circular letter to all banks listing (1) approved applications for new banking offices and (2) banking offices that opened during the fourth quarter of 2024, covering regular branches and branch-lite units across universal and commercial banks, thrift banks, and rural and cooperative banks. The circular recorded 24 approvals for new offices, including five branch-lite units for Bank of Commerce, four regular branches for Philippine Trust Company, and five regular branches plus one branch-lite unit for Security Bank, alongside approvals for First Consolidated Bank, Legazpi Savings Bank, East West Rural Bank, and Rural Bank of Rizal (Zamboanga del Norte). It also listed 86 office openings in the quarter, led by BDO Unibank (12 regular branches) and BDO Network Bank (24 branch-lite units); other openings included Security Bank (13 regular branches and one branch-lite unit), BPI Direct BanKO (10 branch-lite units), Producers Savings Bank (six regular branches), China Bank Savings (two regular branches), and additional openings by several other thrift and rural banks.
Central Bank of the Philippines 2025-05-07
Central Bank of the Philippines publishes Q4 2024 list of approved and opened bank branches and branch-lite units
The Central Bank of the Philippines issued a circular detailing approvals for 24 new banking offices and 86 office openings in Q4 2024. Notable approvals include branch expansions for Bank of Commerce, Philippine Trust Company, and Security Bank. BDO Unibank and BDO Network Bank led the office openings with 12 regular branches and 24 branch-lite units, respectively.