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Saturday, June 04, 2005
N. Mindanao-based bank opens 3rd branch in Cebu
Green Bank has opened a branch at the National Highway in Subangdaku, Mandaue City.
The rural bank started out in 1975 as the Rural Bank of Nasipit, catering to the financing needs of the people in Agusan del Norte, as well as the businesses of its owners, particularly the Nasipit Lumber Co.
Today, it is one of the largest rural banks in northern Mindanao, according to a statement.
Its expansion began in 1995 when it established a branch in Butuan City. A branch followed in Bayugan, Agusan del Sur.
In 1997, the bank was renamed the Rural Green Bank of Caraga (Green Bank). It acquired Alegria Bank Inc. in 2002.
Today, Green Bank has a total of 25 branches and five microfinance offices.
In the last quarter of 2004, Green Bank had P1.403 billion in resources.
It has reaped awards from Land Bank of the Philippines for profitability, and from the Social Security System and Philhealth for collection efficiency.
The bank is headed by Joseph Omar Andaya, its president and chairman.
(June 4, 2005 issue)
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