MEXICO, Pampanga -- The Rural Bank of Mexico could soon be found across the region as a new management takes over, according to the bank's new president, Victor Lim, Jr. during the 52nd anniversary celebration of the financial institution recently.
With the new management, changes and improvements would take place. The bank would to be renamed from The Rural Bank of Mexico to Bangko Mexico, however, Lim said it's going to need BSP approval first.
Lim said they are currently planning for a branch to be established in the City of San Fernando this year and soon in other parts of the region.
"The headquarters would still be in Mexico, but we're going to have branches in other areas like Olongapo and San Fernando," he said.
"PDIC allows us to open additional branches. So our next branch would be in Olongapo, and then by next year in San Fernando. So by next year we will have three branches," Lim said.
Lim added that the management plans to have the Olongapo branch by the current year and the San Fernando branch by 2015.
"In fact, Central Luzon has good potential. Because besides Olongapo, the other area we want to go into is Bataan. Bataan has very good potential. The management looks forward to either Balanga or Orani," he said.
"So these are the three provinces we want to concentrate on. We want to become a regional bank. It’s should be Pampanga, Zambales and Bataan," Lim said.
Services that are currently offered are standard time deposits, savings deposits, commercial loan, microfinance loan and agricultural loan.
Meanwhile, the bank is adding salary loans where the bank has already tied up with companies and the loan would be directly deducted from the employee’s salary. However, the employee can only borrow 25 percent of the take home pay.
Additionally, bank will offer current accounts. “We have an application in the central bank. We’re going to offer current accounts before the end of the year, kung papayagan kami ng central bank,” Lim said. (Ashley Dela Peña)