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More bank branches opening in CV
- Source: http://www.sunstar.com.ph/cebu/business/2015/08/27/more-bank-branches-opening-cv-427007
- Thursday, August 27, 2015
- By Jeandie O. Galolo
THE Bangko Sentral ng Pilipinas reported an increase in the number of bank branches that have opened in Central Visayas in one year. The central bank sees this as a sign of widening access to banks in the region.
From March 2014 to 2015, BSP Department of Economic Statistics Deputy Director Teresita Devesa said there were 642 bank branches operating in Central Visayas, from the previous 618 in the same month last year. Of the number, 46 of these banks maintain their head offices within Central Visayas.
“Financial resources in Central Visayas continue to improve in 2014 and in the first quarter of 2015. There is wider bank presence, higher bank deposits, and more loans granted, which means more capital to fund economic expansion in the region,” Devesa said.
For universal and commercial banks, the number grew from 359 to 391. Meanwhile, thrift banks increased in number, from 120 to 126.
However, things were different for rural and cooperative banks. The number of branches dropped from 139 to 125, indicating that these banks might have transferred some of their branches to another region or closed.
On the other hand, bank density ratio, or banks per municipality in Central Visayas, performed positively. It grew from 4.9 percent in 2013 to 5.2 percent in 2014.
Loans to deposit ratio increased from 36.1 percent in 2013 to 38.3 percent in 2014. The loan to deposit ratio is used to calculate the bank’s ability to cover withdrawals made by its customers.
Net loan portfolio, however, dropped in the region. It declined from 54.6 percent in 2013 to 24.1 percent in 2014.
Deposit liabilities also slowed down from 31.2 percent in 2013 to 17 percent in 2014. Deposit liabilities are the money that bank clients have put into the bank, which the bank will have to pay back at some point in the future.
Nationwide, the banking industry performed at a better rate, as reflected in the number of branches which grew to 9,810 in March 2015 from the 9,353 branches in March 2014.
The bulk of the banks are in the National Capital Region.