ONB gets more branch licenses
May 31, 2011 | 12:00am
MANILA, Philippines - One Network Bank (ONB) got the nod of the Bangko Sentral ng Pilipinas (BSP) recently for five new branch licenses. The branches will be located in Esperanza, Sultan Kudarat; Barangay Sangali, Zamboanga City; Bagangga, Davao Oriental; Butuan City (the second branch); and Makati City (DOSRI branch). The new branches bring ONB’s total branch network to 85, still the largest among the country’s 598-strong rural banking system. Mindanao-based ONB reported a capital base of P1.98 billion as of end March 2011. By the end of next year, it is projected to reach the P2.4-billion minimum capital required on commercial banks.
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