LBC Express to grow remittance offices in PHL and abroad
Global cargo company LBC Express Inc. is expanding its remittance offices by 1,000 locations next year to strengthen its presence in the Philippines and overseas.
“Strategic partnerships leverage the strengths of all parties involved, and for LBC in particular, opens different corridors and locations for us to accept remittances from all over the world," LBC president Fernando Araneta said in an emailed statement Friday.
"It also opens avenues for future business opportunities such as outward remittances from the Philippines, as well as tapping other nationalities worldwide," he said.
The partnerships forged this year increased the company's locations to over 3,400 worldwide. Its local presence of over 1,000 branches was reinforced with 1,600 locations through agent partners nationwide.
The company said its 14 international partners added 794 network locations – 253 in the Middle East, 288 in Europe, 107 in Asia Pacific, and 146 in North America.
Araneta said LBC has been "judicious" in choosing the right partners for the right locations, especially in Europe, the Middle East, and Asia Pacific, where there is a need to strengthen its presence.
"Our goal is not only to reinforce LBC as the preferred remittance, cargo, and courier service provider of Filipinos; we want to make our mark as a purely Filipino company providing a much-needed service to the world," he added.
With the signing of Palawan Pawnshop in July, almost 1,600 new partner branches and sub-agents were added to the LBC network in Visayas and Mindanao.
The service agreement makes LBC’s Instant Peso Padala service available at over 700 Palawan Pawnshop branches and 900 of its sub-agents and the Express Pera Padala will be serviced at LBC branches.
Earlier this year, LBC also signed agreements with Metrobank, Land Bank of the Philippines, and RCBC that have strong presence overseas.
The company's international partners include Money Exchange in Spain, Philrem in the UK; Al Ghurair Exchange, Al Falah Exchange, and Speed Remit in the United Arab Emirates; TML Remittance Center and Placid Express in Malaysia; Far East Express and RJ Mart in Taiwan; and Manila Trading in Adelaide, Australia.
Its latest partner is Meralco Bayad Center for over-the-counter bills payments. — VS, GMA News
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