DAVAO CITY -- One Network Bank (ONB) said on Friday it has set aside
P212 million in capital expenditures this year, allocating half of the
amount for its headquarters and P35 million for its electronic banking
facility.
The bank, in a statement, said P120 million has been budgeted for its
seven-story headquarters in this city that is slated for completion in
March next year.
ONB, which has the widest branch network in Mindanao and is one of the
country's largest rural banks, is also adding 36 automated teller
machines this year to boost its fleet to 140 machines by the end of the
year. This will cost P17 million, the bank said. It is also investing in
an P11-million online facility, and P4 billion on electronic banking
software. It is also investing P3 million in a call center.
ONB is also opening its branch in Makati City this year along with those
in Esperanza, Sultan Kudarat; Sangali, Zamboanga City; Baganga, Davao
Oriental and a second branch in Butuan City.
It has also allocated P14 million to buy sites for branches in
Cabadbaran, Agusan del Norte; Surigao City; and Libungan, South
Cotabato. -- Carmelito Q. Francisco
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