Regulatory Alerts2025-05-08
BDO Network Bank, Inc. – Upgrade to a Thrift Bank License and Change of Trade Names
The Bangko Sentral ng Pilipinas approved BDO Network Bank, Inc.'s upgrade from a rural bank to a thrift bank license, effective May 5, 2025. This regulatory change follows the Securities and Exchange Commission's approval of the institution's amended Articles of Incorporation and By-Laws in December 2024. Consequently, the bank has updated its trade names to reflect its new status as a savings bank.
File/Ref. No. FSD III-2025-04-0150b-FSD3-M-BDONB Page 1 of 1 FSS Licensing Form No. 02-018 * Version 1 * Updated 31 July 2024 OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2025-___ To : All BSP-Supervised Financial Institutions Subject : BDO Network Bank, Inc. – Upgrade to a Thrift Bank License and Change of Trade Names The Monetary Board, in its Resolution No. 128 dated 27 January 2022, approved the request of BDO Network Bank, Inc. (BDONB) to upgrade its banking license from a rural bank to a thrift bank under the same corporate name. In view of the change in its banking license, BDONB changed its trade names to BDO Network Bank, a Savings Bank; BDO Network, A Savings Bank; and BDO Network Bank. The Securities and Exchange Commission approved on 27 December 2024 the amended Articles of Incorporation and By-Laws bearing the thrift banking license. The corresponding Certificate of Authority to Operate as a thrift bank was issued by the Bangko Sentral Governor on 5 February 2025. BDONB commenced its operations as a thrift bank on 5 May 2025. For information and guidance. CHUCHI G. FORNACIER Deputy Governor __ 08May 2025