Rural bank to open 10 branches this year

MALAYBALAY CITY, Philippines - Asian Hills Bank, a rural bank based in this city, will open 10 new branches this year in time for its 10th anniversary celebration. Erlow Talatala, Asian Hills Bank marketing manager, said there are, at present, seven branches with two newly opened offices in sugar-rich town Quezon and in Valencia City’s. Mr. Talatala said most of these branches are new since the central bank approved Asian Hills’s application for new branches only last year. The bank has offices here, in Villanueva, Misamis Oriental; Kabacan, North Cotabato; Carmen, Cagayan de Oro City; and -Opol, Misamis Oriental. The bank is eyeing to open branches in the cities of Gingoog, Iligan, Davao, Cebu and Manila within the next two years. "Definitely, we will open in Manila next year," Mr. Talatala said. He clarified, however, that the new branches will initially operate as business centers before they will gradually be converted into full branches. Products and services generally available in business centers are micro-finance and agricultural loans. - BusinessWorld