PBCOM to open two Cebu branches as part of expansion
PBCOM Senior Manager Kristine Lotilla (center) leads bank officials in announcing the bank’s new branches and strategy at the Radisson Blu Hotel Cebu. (CDN PHOTO/CHOY ROMANO)
A commercial bank will open 36 new branches in the country including two in Cebu this year to penetrate the growing small and medium enterprise sector.
The move is part of the Philippine Bank of Communications (PBCOM) strategy shift to become an all service bank in the coming years, said PBCOM senior manager Kristine G. Lotilla last Tuesday.
Lotilla said in the past the bank only served the banking needs of Chinese businessmen.
SMEs
As of last year, however, they saw the potential to grow further and tap more segments including the growing Small and Medium Enterprises (SMEs) in the country.
“The SME is a new department which we have created last year and start rolling out here this year to specifically cater to their special needs or those holding an asset size of at least P20 million,” she said.
Lotilla said that they will be putting special focus on the SMEs which can avail of loans of up to P25 million.
“SMEs make up 99 percent of the enterprises in the country especially here in the Visayas and Mindanao regions. The continued economic growth will fuel more growth from these segments and we want to be there to cater to their needs from regular lending, term financing, working capital and more,” she said.
She said that it takes a more simplified and quicker response approach to deal with the SMEs that is why a dedicated department should help them serve and grow this market well.
OTHER SEGMENTS
Other segments also include enterprise banking, convenience banking which is more into the consumer products and the prosperity banking which is more on the retail services including deposits.
PBCOM recently opened their Cebu Business Park branch at the Creativo Building.
They plan to add two more this year preferably at the south Cebu area and at the Cebu IT Park, said PBCOM manager Benedict U. Go.
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