China Bank to open 10 more branches before year ends

The bank has reportedly set aside as much as $186,000 per branch.

China Bank is set to open eight to 10 more branches this year as it expands its retail banking network in the Philippines, reports Business World.

The bank has allocated $149,805 to $186,757 (PHP8 to PHP10m) per branch as it uses the licenses of banks it previously acquired to multiply its footprint.

Currently, China Bank has 444 branches, China Bank Deputy Group Head of Retail Banking Business Jose L. Osmeña, Jr. told BW.