Title
Foreign Banks Authorized to Operate Branches
Law
Bsp Circular Letter
Decision Date
Aug 7, 1995
Foreign banks, including Fuji Bank, International Commercial Bank of China, International Nederlanden Bank, and Deutsche Bank, have been granted full banking authority and commenced operations in the country as of mid-1995.
foreign banks
banking authority
banking operations

Banks and Commencement Dates

  • The FUJI BANK, LTD. commenced branch operations on June 30, 1995.
  • The INTERNATIONAL COMMERCIAL BANK OF CHINA commenced branch operations on July 4, 1995.
  • INTERNATIONAL NEDERLANDEN BANK commenced branch operations on July 10, 1995.
  • DEUTSCHE BANK commenced branch operations on July 14, 1995.

Continuation of Earlier BSP Notices

  • The circular letter states that the listed commencement of operations is in addition to earlier BSP announcements of commencement for:
    • BANK OF TOKYO, LTD. on April 3, 1995.
    • KOREA EXCHANGE BANK on June 1, 1995.
  • The circular letter frames its announcement as part of the continuing public guidance on foreign banks that have started operations after being granted authority to operate branch(es) with full banking authority.

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