BDO Unibank Inc., the Philippines’ largest lender, led domestic bank expansion in the first quarter of 2025 with the most branch approvals and openings.
The Bangko Sentral ng Pilipinas (BSP) said BDO received regulatory clearance for 35 new branches—eight under its core banking operations and 27 through its rural arm, BDO Network Bank. The group opened a total of 14 branches during the period.
Security Bank Corp filed nine branch applications and opened one location, the only other major bank to seek expansion approvals during the quarter.
Ayala-led Bank of the Philippine Islands opened the most branches overall, driven by its thrift banking unit, BPI Direct BanKO Inc., which launched 16 branches. BPI itself added one.
Other lenders that opened a single branch each included China Banking Corp.,the state-run Development Bank of the Philippines, Rizal Commercial Banking Corp. and Security Bank.
A total of 49 bank branches opened in the first quarter, while 48 applications were approved, BSP deputy governor Chuchi Fonacier said.
The continued expansion reflects efforts by banks to broaden physical reach, particularly in underserved areas, even as digital banking adoption grows.
