MANILA — One hundred ten bank offices of various types have been added to the existing bank offices in the Philippines in the first quarter of 2017.
This figure was indicated in Circular Letter 2017-038 issued by Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor Espenilla Jr. on June 22, 2017.
Of the total, 47 of them are branches are for universal and commercial banks (U/KBS), 37 are thrift bank (TBs) branches and 26 are branches of rural and cooperative banks.
Central bank data show that as of end-December 2016, there are a total of 28,392 branches of financial institutions in the country.
Of the total, there are 6,252 head offices and 22,140 branches and agencies.
Total bank head offices and branches as of last year reached 11,178 while there are 17,214 non-bank financial institution offices in the country.
Total head offices and branches of U/KBs as of last year reached 6,237 while TBs reached 2,176 and RBs, 2,765.
Espenilla, who heads the central bank’s Supervi-sion and Examination Sector (SES), said there are also 110 approved applica-tions for new banking offices around the country in the first quarter of the year.
Total approved applications for U/KBs reached 24;TBs, 12; and RBs and Coop Banks, 74.