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Article: PHILIPPINES RCBC TO ISSUE FIRST MICROFINANCE LOAN JULY 1.
- Article from:
- AsiaPulse News
- Article date:
- July 1, 2009
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MANILA, July Asia Pulse - Philippines Rizal Commercial Banking Corporation (RCBC) announced Tuesday that it is ready to issue its first ever microfinance loan on July 1.
"We believe that with proper execution and stringent risk management, microfinance will be a strong complement to our lending business," said RCBC president Lorenzo V. Tan in their disclosure to the Philippine Stock Exchange (PSE) Tuesday.
As part of its business expansion efforts, RCBC recently purchased JP Laurel Rural Bank in Batangas and Merchants Bank. JP Laurel Rural Banks 10-branch network is intended to be RCBCs microfinance vehicle in Southern Luzon, while a part of Merchants ...