Financial services firm to expand nationwide

CEBU, Philippines - Financial services provider, M Lhuillier is expanding its presence in the Philippines as demand for money transfer and quick cash loan services speeds up.

M Lhuillier Financial Services Inc., general manager for Visayas and Mindanao Arne Jude S. Millares said that the company targets to hit over a thousand outlets in Southern Philippines alone before the end of first quarter next year.

The Cebuano-owned company, which operates the largest number of outlets in this financial service category, targets to penetrate large community areas and make its presence felt in the neighborhood.

This means that there will be more M Lhuillier branches in the neighborhood starting next year.

Millares said the company spends around P300 thousand for each of the neighborhood outlet also dubbed as "low-cost" operation outlets.

At present, there are a total of 1,800 M Lhuillier outlets across the country. Majority or 968 outlets are located in Visayas and Mindanao.

As the demand for quick-cash-loans and money transfer through its  "ML Kwarta Padala"  increases, Millares said the company will invest in community areas or in large barangays to provide convenience to its clients, where people do not have to "dress up" and go far in order to do financial transactions.

Millares added that aside from the domestic money transfer needs, the company's growth is also bolstered by the frequent needs of OFWs (Overseas Filipino Workers) to send money to their families back home.

M Lhuillier partners with over 100 financial institutions in at least 250 countries.

Its success in sustaining its name in the financial services sector has also encouraged the company to expand not only its market presence, but also in other financial services needs, such as non-life insurance service, among others.

Last year, the company introduced its "Family Protect" insurance product, which insures client of one-year insurance benefits for P99 that includes coverage for personal accident, fire and cash assistance.

This insurance product has already attracted over 2,000 corporate clients but the company is also bringing this particular insurance product to the huge mainstream market to introduce the importance of insurance to everybody across social status.