The banking unit of Cebuana Lhullier will soon expand its rural bank network from Cavite and Batangas to Northern Luzon and Mindanao.
Cebuana Lhullier Rural Bank president Dennis Valdez said the bank was looking to expand to three to five sites nationwide.
“Expansion will be carried on a small scale. We’re looking at Davao, Cebu, General Santos City and up north in Luzon,” he said.
He noted that the expansion would be based on the population density of an area.
However, plans for the bank’s expansion is dependent in the success of the micro-savings scheme it launched in the last week of February last year.
Through the micro-finance scheme, the bank aims to tap the 70 million unbanked Filipinos, giving special focus on some 10 million active clients of Cebuana Lhullier from a total of 24 million clients nationwide.