CEBU, Philippines – Asia United Bank Corporation plans to open six more branches nationwide, including one in Cebu, before the end of the year taking advantage of the country's favorable economic condition backed by a strong banking system and strong fundamentals set up by the Bangko Sentral Ng Pilipinas (BSP).
Asia United Bank currently has five branches in Cebu, and before the year ends another Asia United Bank will open near the Cebu Business Park, bringing to six the number of AUB branches in Cebu.
In an interview with Asia United Bank executive vice president Manuel Gomez, he said that the bank is going to leverage on its value-added services in technology. The bank is set to employ a dedicated pool of IT (Information Technology) and software developer professionals to offer exceptional solutions for depositor companies and target corporations.
The bank will spend about P20 million for every branch opening and with the six new branches in the pipeline, the bank will easily spend at least P120 million in the next few months.
While BSP only required a capital adequacy for commercial banks of about P2.4 billion, the 12-year-old Asia United Bank has a total capital adequacy of P8.7 billion to date.
"We are positioned to expand and establish our presence especially in Luzon and the Visayas," said Gomez.
"Our capitalization is quite sufficient. We just bought the Rural Bank of Angeles. Our unique selling proposition is in offering technology to our clients," Gomez said in an interview with The Freeman.
Gomez was in Cebu recently to grace the opening of the fifth branch of Asia United Bank in Cebu, located in A. S. Fortuna in Mandaue City.
The bank has developed its own software offering for companies dubbed as "BizKit" that offers six products in one bundle. These include; a comprehensive payroll management solution, human resource management, accounting, and other sensitive operations within an organization.
This value-added product will be given free-of-charge to depositing companies.
Significantly, the bank also intensifies the security features of its online banking system, with a 3-level security passwords, that can't be easily accessed by hackers.
The bank, which is part of the group of companies that also operates the Republic Biscuit Corporation, the maker of Rebisco brand, has significantly fared well in the country's tough banking industry largely banking on its technology offers to clients.
Gomez said the banks has invested so much on its technology offering, and hired the top-notched IT talents in the country, to leverage on the emerging technology-dependent banking market.
In fact, the bank is going to pioneer the introduction of "Virtual Teller Kiosk" that will be deployed in major areas in the country.
The Virtual Teller Kiosk will allow the depositor or bank client to transact with the bank through an interactive teller machine, wherein the processing of transaction can be done in real time, just like transacting with a real teller. (FREEMAN)