Globe puts up first mobile microfinance bank
Globe Telecommunications, Inc., together with sister company Ayala Corp., is all set to put up the Philippine’s first mobile microfinance banking unit. That is because the Banko Sentral ng Pilipinas approved the Globe and Ayala’s entry into the banking industry.
The new bank, will be called “BPI Globe Banko, A Savings Bank” will be using Pilipinas Savings Bank. BPI senior vice president Teresita Tan was named president of the new bank. She said it will be launched this month.
Globe will have a 40 percent stake on the new bank, together with BPI who will also get 40 percent. The Ayala Corp. will be having a 20 percent stake on the bank.
The new bank will be nicknamed “Banko” according to Tan, this means “my bank.” She said they would soon open their first branch in Greenhills.
She said, “We’re required by the BSP to have at least one satellite branch per region but this will really be a mobile bank.”
Banko will be offering microfinancing P3,000 to P150,000. It will also offer SMEs (small and medium enterprises) loans worth P150,00 to P500,000, and wholesale funding to microfinance-oriented non-government organizations (NGOs) worth between P500,000 and P80 million.
Personally, as I am wanting to get back to my business soon, this additional channel is a good news to me. I just hope that they open a satellite branch near my place soon.
October 12, 2009
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Tags: Ayala, Banks, BPI, BPI Globe Banko, BSP, Business, business loans, capitalization, entrepreneur, financing, funds sources, Globe, Loans, microfinancing, mobile financing, NGOs, Philippines, SMEs В· Posted in: Announcement, banking, Employment, finance, investments, Loans, money, Philippine banks, Philippine business news, Philippines
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