Real Bank plans Luzon expansion

MANILA, Philippines - Real Bank, one of the more progressive thrift banks in the Philippines, is planning to further expand its presence in Luzon, a bank official said.

Real Bank first vice president for branch banking group Samson Ngo said they plan to strategically expand their branch network and offsite ATMs based on key economic indicators of local businesses.

Ngo said they are particularly eyeing the micro, small and medium enterprises (MSMEs) in the communities they serve, as well as to increase  coverage and accessibility to existing customers.

Currently, Real Bank has 24 branches. The branch network started with four branches: Cainta and Masinag in Rizal, and in Malolos and Guiguinto in Bulacan.

Over the years, the bank had put up  additional branches in San Fernando, Pampanga, Laguna, Cavite, Batangas and Metro Manila.

 â€œ2013 is the year of positive change and growth which the organization has been planning for in the last couple of years,” Ngo said.

“As we further develop our relationships with the communities we are present in, we’ve been discovering a number of micro, small and medium enterprises present in those communities that need assistance in understanding basic banking services,” he said.

Aside from the decision to increase their branch network and offsite ATM presence, the product and service offerings were also reviewed and tweaked in order to cater to the specific market of MSMEs. Products that offer escalating interest rates and special products with period lock-ins are now part of the roster.

Established in 1976, Real Savings and Loan Association Inc. (RSLAI) started as a single-branch bank in Cainta, Rizal.

It remained as such for more than 15 years with minimal growth until the current group of owners led by realty developer Jose L. Acuzar took over in 1994.