THE BANGKO SENTRAL ng Pilipinas (BSP) approved a total of 11 regular bank branches in the third quarter.

The Monetary Board approved applications for new banking offices of three banks in the third quarter, with two being universal and commercial banks and the other a rural bank, according to a circular letter signed by BSP Deputy Governor Chuchi G. Fonacier on Dec. 19.

Among the banks that submitted applications, the BSP allowed Security Bank Corp. to set up six regular branches located in Quezon, Davao City, Zamboanga Sibugay, Southern Leyte, Cebu, Bulacan and Camarines Norte.

The Monetary Board also allowed Rizal Commercial Banking Corp. to put up two regular branches — one in Bulacan and the other in Camarines Norte.

The Rural Bank of Angeles, Inc. also secured approval for three regular branches in Batangas, Leyte and Bukidnon.

The 11 regular branches approved in the third quarter were more than the six approved in the same period in 2023.

There were also three branch-lite units (BLUs) approved in the July-to-September period this year. The applications were from Lifebank – A Rural Bank and A Rural Bank of Tanjay, Inc.

Meanwhile, nineteen lenders opened new banking offices during the quarter.

There were 18 regular branches that were opened for the first time during the period, while banks opened 38 BLUs.

Among universal and commercial banks, BDO Unibank, Inc. and Security Bank opened a combined 10 regular branches in the third quarter. Meanwhile, BDO, Bank of the Philippine Islands, and Development Bank of the Philippines set up a total of five BLUs.

For thrift banks, CARD SME Bank, Inc. A Thrift Bank and Producers Savings Bank Corp. opened five new regular branches, while BPI Direct BanKO, Inc. A Savings Bank, Chinabank Savings, Inc., Rizal Microbank, Inc – A Thrift Bank, and Sun Savings Bank, Inc. opened a combined 16 branch-lite units..

For rural and cooperative banks, Cebuana Lhuillier Rural Bank, Inc. and Top Bank Philippines, Inc. (A Rural Bank) set up a total of three regular branches. Meanwhile, Bankways, Inc. (A Rural Bank), BDO Network Bank, Inc. (A Rural Bank), Card MRI Rizal Bank, Inc. A Microfinance-Oriented Rural Bank, Innovative Bank, Inc. (A Rural Bank), Lifebank-A Rural Bank, Rural Bank of Bansud (Oriental Mindoro), Inc., and Rural Bank of San Narciso, Inc. opened 17 BLUs. — Luisa Maria Jacinta C. Jocson