MANILA, Philippines – The Bangko Sentral ng Pilipinas approved last May 14 Malayan Bank’s request to declare P105 million cash and stock dividends to its shareholders of records as of Dec. 12, 2008.
“Malayan Bank is happy to share its success with our loyal stockholders, who have supported us since the bank commenced operations in 1996”, Malayan Bank president George J. Martirez proudly said. Malayan Bank is currently among the more profitable thrift banks, ending the year 2008 with a 37-percent growth in net income versus 2007.
Amidst the high uncertainty surrounding the economy, the bank posted a 13 percent increase in its resources and liabilities for the first quarter of the year, bringing its total resources up to P4.09 billion, as of April 30, 2009. On the income side, Malayan Bank is currently above its year-to-date target by 45 percent. Martirez is confident that the bank will meet its 2009 target, despite the country’s volatime economic situation.
“2009 will surely be a banner year for Malayan Bank. We continue to generate robust earnings and are on track to meet our goal of being among the top thrift banks within the next three years. In addition, the board of directors has approved to increase the bank’s capitalization to P2 billion (subject to the approval of the Bangko Sentral). This will be another catalyst to the bank’s relentless growth”, Martirez said.
Malayan Bank currently operates branches strategically located in Metro Manila, Calabarzon, Northern Luzon and major cities in the Visayas region. The bank will open more branches in Northern Luzon this June.
In line with its expansion program, Malayan Bank remains focused on the radical makeover of its banking infrastructure. In fact, the bank has forged a three-way partnership with IP-Converge, a leading information technology company, and Nucleus Software, a leading software powerhouse providing innovative software solutions for financial organizations globally. Malayan Bank is expecting to have its upgraded and fully-automated system in place by September 2009.
Martirez attributes Malayan Bank’s sound performance primarily to its value proposition of offering competitive investment products, flexible loan packages and exceptional sales programs for their customers.
Malayan Bank is a savings and mortgage bank established in 1996 by the shareholders of GMA Network, Majalco Group of Companies, Liberty Flour Mills and LINQ Information Quadrant Corp. The bank provides comprehensive financial assistance with its array of loans and deposit products.