ANZ secured a universal banking licence in the Philippines from Bangko Sentral ng Pilipinas. The bank traded under a more restricted commercial banking licence until now.The universal licence will allow the bank to improve its "capability to provide the full spectrum of debt products, from origination to distribution, to Institutional clients" in the Philippines according to notes emailed by the bank. ANZ is the first foreign bank to secure a universal licence.The Philippines has not much featured in the commentary from the bank with regard to its expansion plans in Asia. ANZ operates a single branch in Manila.ANZ has held 60 per cent of a payment card business, in conjunction with Metrobank, for most of the last decade, though this business is not making much of an impact in an economy where mobile payments are vibrant.