ONB registers 24% hike in cash transfers in HI
Tuesday, July 27, 2010
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MINDANAO-based One Network Bank (ONB), the largest banking network on the island, registered a total of P14.3 billion in cash transfers through its 96 automated teller machines (ATMs) and 75 branches from January to June, this year.
The figure represents 24 percent increase as compared to the same period last year or an average of P2.4 billion in cash moved monthly all over Mindanao, according to Alex V. Buenaventura, ONB president.
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He said the Mindanao-based bank is moving cash through two channels -- through its 96 ATMs via cash withdrawals and through 75 branches using interbranch remittance transactions.
Buenaventura said interbranch remittance transactions under the ONB PeraDala Product line increased by 23 percent to P7.6 billion as of and June 2010, largely from cash transfers from one ONB branch for deposit to an account in another ONB branch.
Through the online electronic fund transfer system of ONB, this transaction can be done through any available teller over the counter and will only take a few minutes to complete. The increase can also be largely attributed to the bank's very affordable transaction charges.
ATM cash withdrawals, Buenaventura said, climbed from P5.6 billion during the 1st semester of 2009 to a total P6.7 billion as of the same period this year.
The 20 percent growth is mainly contributed by the bank's tremendous increase in ATM cardholder base, which averages more than 4,000 new cardholders a month especially for its very popular PeraAgad ATM Pinoy Card with very affordable opening and maintaining balance of only P100.
Another contributor is its wide network of 96 ATMs located mostly in countryside areas of Mindanao.
ONB is the 2009 MegaLink Awardee for Most Strategically located ATMs. The said award was bestowed on ONB for its 13 PeraAgad ATMs belonging in the top 50 onsite ATMs and another 8 in the top 50 offsite ATMs of MegaLink's 2,600 ATMs nationwide.
The bank currently operates a total of 75 branches and 96 ATMs throughout Mindanao, including 17 localities where it is the sole provider of banking services.
Buenaventura announced that Bangko Sentral ng Pilipinas also recently approved five more branches which it plans to open all of them by end of September.
The new branches will be located in Matina Crossing in Davao City; Babak in the Island Garden City of Samal, Davao del Norte; Oroquieta City in Misamis Occidental; Molave in Zamboanga del Sur; and Ayala in Zamboanga City.
