Philippines' BDO to add as many branches as possible

Banco De Oro plans to add as many branches that it could handle to its 740-plus network.

However, Teresita Sy-Coson, chairman of Banco de Oro Unibank, said there is a problem with the branch moratorium for big banks.

“Medium-sized (banks) can grow in the restricted area while bigger-sized (banks cannot),” expalins Sy-Coson.

“We want to merge but no one wants to merge with us (for now),” Sy-Coson said, adding that BDO will just “grow organically instead of acquiring smaller banks” but bank officials are looking at the possibility.

Last year, BDO was supposed to acquire Export and Industry Bank, particularly its 50 branches, 25 of which are in restricted areas. But the deal fell through and the latter is now placed under receivership.

BDO said growth drivers include its “business franchise and distribution network, leading to an expanded loan portfolio, growing low-cost deposits and higher recurring fee-based service income.”

As of March 31 this year, BDO was the Philippines' largest bank in terms of total resources, customer loans, total deposits and assets under management.

For more.

Also Read

Krungthai Bank temporarily closes 4 branches due to floods

Bank Negara Malaysia releases policy document on claims settlement practices

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit