Malayan Bank set to open 4 branches

MANILA, Philippines - Malayan Bank, a savings bank owned by some of the major shareholders of GMA-7 Broadcast Network, LNQ Information Quadrant Corp., Majalco Realty and Liberty Flourmills, is set to open four new branches this week.

The new branches will be located in Davao City, Meycauayan (Bulacan), Dasol (Pangasinan), and Baguio City. Malayan Bank will now have a network of 20 branches nationwide.

“We were given clearance by the Bangko Sentral ng Pilipinas (BSP) to open more provincial branches. We will continue to open five new branches each year to meet our goal of having 30 branches by early 2014. This is in line with our thrust to expand our operations nationwide in support of our commitment to better serve the banking needs of the Filipino families and business enterprises,” said George J. Martinez, Malayan Bank president and chief executive officer.

“This move brings Malayan Bank’s personalized services and innovative products such as the Power Saver within reach of more areas in the country,” Martinez said.

Malayan Bank’s existing branches are located in Makati, Las Piñas, Imus (Cavite), Sta. Rosa (Laguna), Mandaluyong, Pasig, Marikina, Quezon City, Caloocan, Malabon, Angeles (Pampanga), Urdaneta (Pangasinan), Dagupan (Pangasinan), Iloilo City, and two branches in Cebu City.