Maybank Philippines opens fourth Cebu branch

CEBU, Philippines - As part of its target to open 25 branches in the country every year, Maybank Philippines Inc. (MPI) recently opened its fourth branch in Cebu last Monday.

Maybank Cebu zone manager Pat Rodriguez said that MPI is eyeing to grow and expand its business in Cebu, which is one of the country’s major international destinations particularly for tourism and foreign businesses.

To date, the newly-inaugurated branch located in Lahug is the eighth branch that was opened this year and the 63rd branch nationwide.

The three other branches are located in Downtown Cebu, Ayala Center, and Mandaue Subangdaku.

Rodriguez noted that the regional bank can provide convenient banking services to entities with regional financial requirements.

As part of the Maybank Group, MPI is capable to cater to clients who have businesses in the 10 ASEAN countries and help them deal with their transactions overseas.

The Maybank Group has a total asset of over $160 billion and is considered to be the fourth largest bank in Southeast Asia. 

She further highlighted MPI products that enable clients with regional access in six other countries that include Malaysia, Singapore, Brunei, Cambodia, Papua New Guinea and Vietnam.

She said that the Maybank Automated Teller Machine (ATM) card, for instance, can be used for instant cash withdrawal at any Maybank ATMs in those countries.

She also cited that secure online banking services of the bank where clients can inquire, pay, transfer, invest and manage their accounts safely.

Earlier, MPI corporate affairs head Eric Montelibano said that the regional bank considers Cebu as an important market given the city’s high business activity and economic progress.

Its nationwide expansion program, he added, is aggressively geared towards penetrating the market and increasing its presence in the strategically-placed areas in the Philippines.

MPI plans to increase the number of its branches to 200 by 2018 nationwide.— Grace Melanie I. Lacamiento

MPI is a full-service commercial bank offering a wide array of financial solutions geared towards the upscale consumer market and selected segments of top-tier corporations.

Its range of services encompasses peso and dollar deposit accounts, consumer, corporate and SME loans, auto and mortgage accounts, cash management services, electronic banking, remittance services, trust and fiduciary accounts, trade finance, and treasury and foreign exchange

Maybank Group is a regional financial services leader in Malaysia with an international network of over 2,200 offices in 20 countries globally. It has over 46,000 employees serving more than 22 million customers worldwide.

In 2012, Maybank was hailed as the new entrant and first Malaysian bank to be included in the Bloomberg Markets magazine. It ranked 13th in the list of the world’s 20 strongest banks. /JOB (FREEMAN)