Metrobank opens branch in Balamban

CEBU, Philippines - Describing the market as progressive and growing, Metropolitan Bank & Trust Company (Metrobank) has now increased its presence and extended its financial services to western Cebu as it officially opened its first branch in the municipality of Balamban yesterday.

Metrobank Balamban branch head Rey Duque said that the universal bank aims to cater to the progressive market of Balamban and make their banking services more accessible to its existing and potential clients.

Duque assured that residents in Balamban and in neighboring provinces could expect the same full banking services offered in other Metrobank branches in the province.

It was announced last year that Metrobank targets to open more branches in suburban and countryside areas as a sign of confidence on the domestic economy of the country.

Balamban municipal mayor Ace Stefan Binghay expressed pride as one of the country’s reputable financial institutions has finally opened its doors to his constituents.

He shared that even before 2010, Metrobank has showed interest in expanding its operations in the municipality.

He noted that this could be primarily attributed to the emerging growth of small-scale businesses in the province and the increase of purchasing power of the residents due to employment generation of the shipbuilding industry.

“A lot of businesses coming from different industries are already sprouting in Balamban. As a result, people feel the need to deposit their money in the banks either for personal purposes or for salary distribution to the employees of the existing companies,” he said.

He cited that the opening of the Metrobank branch makes it more convenient for residents in Balamban who need not to go anymore to Toledo to do their financial transactions with the bank.

The newly-opened Metrobank branch is a 150-square outlet located at E.S. Binghay Street, Balamban, Cebu.

There are five other existing branches of commercial and rural banks located in Balamban in addition to the new outlet of Metrobank.

Also, there are automated teller machines (ATMs) from eight banks present in the municipality.

Binghay further said that the growing presence of banks and other financial institutions could help attract would-be investors to consider expanding their operations in Balamban.

“It is considered as one of the factors that possible investors consider upon venturing in a particular area along with the peace and order in the community,” he said in an interview.

Earlier, Binghay encouraged investors from other industries to consider the town as a potential investment hub in the province aside from being branded as the “shipbuilding capital of Cebu.”

Over the years, Balamban has been home to Tsuneishi Heavy Industries, Inc., one of the leading medium-sized shipbuilders globally. It was last January of this year that the globally-known Austal and Philippines Shipyard Operations was opened at the West Cebu Industrial Park (WCIP).

The development of the WCIP in Barangay Arpili, Balamban has been appropriate to accommodate the operations of medium and heavy industries particularly for shipbuilding and associated business activities.

He said that there is an estimate number of 15,000 employees who are from Balamban and neighboring provinces that are hired to work for the shipbuilding sector.

Balamban, located at the western coast of the province, is subdivided into 28 barangays with an estimate population of 80,000 people and a land area of 33,700 hectares. It is situated 47 kilometers from the city with a travel time of an hour or less.

Meanwhile, the country’s premier universal bank with an extensive consolidated network spans over 800 branches, 1,600 ATMs nationwide and 40 foreign branches, subsidiaries and representative offices. 

Metrobank offers products and services for business, investment and personal purposes which particularly include car and housing loans, checking and savings accounts, credit cards and internet and mobile banking. — (FREEMAN)