PENBANK will provide more services to its clients once it is converted into a thrift bank this year, according to a top executive.

“We already have our approved application (to convert) from a rural to a thrift bank.

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We are now focusing on completing the documents in order for us to be fully converted,” said Robert Cantoy, president of Penbank, during the opening of Penbank A.S Fortuna Branch last Friday.

Added services

He said that as a thrift bank, it would be able to provide more services, including import and export services, loans for medium and small enterprises and other information technology (IT)-related services.

“One IT service, which is our automated teller machine (ATM), is now being worked on by our people, and we are upgrading the system to be able to provide this service by the end of the year,” Cantoy said.

Penbank operates one ATM machine in its General Santos City branch, which is only for its workers’ use.

The new Penbank A.S Fortuna, its sixth branch in the Visayas, is also its regional headquarters for the Visayas.

“Our sixth branch is the symbol of Penbank’s presence in Cebu and that we are staying in Cebu for good,” according to Cantoy.

Penbank has two branches in Mandaue City, one in Lapu-Lapu City, one in Talisay City and two in Cebu City. It has two branches in Iloilo City.

Penbank is based in South Cotabato with 24 other branches in Mindanao. It is owned by RD Group of Companies.

The RD group is into fishing, agri-business, manufacturing, processing, insurance, real estate development, hotels and retailing of hardware and fishing supplies, aside from its pawnshop business, which was its first business.

More branches

“We are looking forward to providing more services and opening up more branches after the conversion,” said Rodrigo Rivera Sr., chairman and chief executive officer of RD Group of Companies.