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BDO Unibank unit to hike branch count over next 4 years

BDO Unibank Inc. unit BDO Network Bank, formerly known as One Network Bank Inc. (A Rural Bank of BDO), plans to double its number of branches and offices to 480 over the next four years, Business World reported Sept. 23, citing the unit's president, Jesus Antonio Itchon.

BDO Network Bank aims to set up 300 branches and offices by the end of 2019, with a focus on expanding its base on the island of Mindanao. The bank currently has 150 branches across the Philippines, while the rest are loan offices.

The expansion comes as the banking unit looks to boost its lending to micro, small and medium enterprises, the publication reported.