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Article: RCBC to issue first microfinance loan this July 1.
- Article from:
- Philippines News Agency
- Article date:
- June 30, 2009
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MANILA, June 30 (PNA) -- Rizal Commercial Banking Corporation (RCBC) announced Tuesday that it is ready to issue its first ever microfinance loan on Wednesday, 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 Bank's 10-branch network is intended to be RCBC's microfinance vehicle in Southern Luzon, while a part of Merchants ...