PHL bank head offices down yoy, qoq in Q1 '12

June 21, 2012 10:26 pm 

MANILA, June 21 – Number of banks’ head offices in the Philippines contracted 723 at the end of the first quarter of 2012 from the previous quarter’s and previous year’s level.

Data of the Bangko Sentral ng Pilipinas (BSP) showed that total number of the banking sector’s head offices reached 723 as of last March, down from the previous quarter’s 726 and 746 same period in 2011.

The contraction was on account of closures of banks and one of these is the Banco Filipino Savings and Mortgage Bank (BF), which was placed under Philippine Deposit Insurance Corporation’s (PDIC) receivership in March 2011.

On the other hand, opening of new branches resulted to the rise in the total number of branches to 8,463 in end-March 2012 from the previous quarter’s 8,324 and year-ago’s 8,124.

Specifically, the number of branches of universal and commercial banks (U/KBs) reached 4,904 as of last March, higher than the end-December 2011’s 4,857 and year-ago’s 4,695.

Also, total number of thrift banks (TBs) rose to 1,545 as of last March, higher than quarter-ago and year-ago’s 1,491.

Total number of rural banks (RBs) reached 9,186 at the end of the first quarter this year, up from the previous quarter’s 9,050 and the 8,870 in end-March 2011. (PNA)

lgi/JS

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