MANILA, Philippines - The Gokongwei family’s Robinsons Bank is seeking to grow its branch network to over 100 in three years as part of its bid to become a leading consumer bank in the country.
On the sidelines of the Banko Sentral ng Pilipinas annual Bankers’ Night Friday, JG Summit Holdings Inc. president Lance Gokongwei said Robinsons Bank will put up 30 new branches in restricted areas in Metro Manila over the next three years.
RSB, the banking subsidiary of conglomerate JG Summit Holdings Inc., is focused on beefing up its branch network to tap a wider market, Gokongwei said.
The bank currently has 65 branches, mostly located in Metro Manila.
It recently acquired a controlling interest in Legazpi Savings Bank, allowing the Gokongwei group to serve the countryside and improve the delivery of financial services to rural communities. As part of the deal, it obtained branch licenses in restricted areas.
With more than P2 billion in assets, LSB has 11 branches in Bicol, way up from Daet, Camarines Norte down to Sorsogon. It also has branches in Virac, Catanduanes and Masbate. It has a good portfolio of high yielding consumer/microfinance loans.
Gokongwei said the bank is adequately capitalized ahead of the implementation of Basel III, which introduces a complex package of reforms designed to improve the ability of banks to absorb losses, extend the coverage of financial risks and have a stronger firewall against periods of stress.
RBS is fast making its mark in the commercial banking industry as one of the most innovative, technology driven and customer-oriented banks in the country today.