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BSP Grants FICOBank the Authority to Establish Five New Branches

To meet its goal in expanding its geographic market reach, FICOBank submitted to the Bangko Sentral ng Pilipinas (BSP) its application for authority to establish additional branches in Abulug (Cagayan), Gonzaga (Cagayan), Tabuk City (Kalinga), Science City of Muñoz (Nueva Ecija) and San Miguel (Bulacan).

Lucky, as it was, the authority to establish five new branches has been granted by the BSP on October 6, 2016. FICOBank got such stamp of approval inasmuch as it has complied with the regulatory requirements for minimum capital, risk-based capital adequacy ratio, risk management system appropriate to its operation, CAMELS composite ratings and supervisory concerns on safety and soundness.

With the inclusion of these soon-to-open branches, FICOBank will eventually have 37 operating units that are strategically located in Regions I-II-III and CAR. With its continuing network-expansion undertaking, the Bank will certainly bolster its geographic market presence, which will subsequently help boost the local economic growth—fitting well with its distinct corporate identity of being a valuable community asset.

 

 

 

 

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