1 CORPORATE PROFILE EXCEEDING YOUR EXPECTATIONS
2 Vision To strengthen leadership in regional development banking by providing the community we serve with efficient, responsive and excellent quality of products and services. Mission We are committed on our role in nation building and its progress based on the free individual citizen working in a free economy. We will help bring the community together and to develop the individuals with the community. We aim to provide our valued customers with quality banking services. Our personalized service will be quick and friendly, with prudence in handling all assets entrusted to us. We will support our clients in all aspects of their business because we recognize that our growth is directly dependent on our customers. We will provide our employees with professional and personal development through productive, efficient and challenging work, a fair merit system, development programs and competitive compensation that reflects the amount of quality of their work. We pledge to our stockholders a fair return on their investment and to safeguard their capital through prudent policies and practices. In all our undertakings, we will act with fairness and in honor. Our goal is quality service to the people we serve out clients, our stockholders our community. Values Total personnel care Total personal commitment Total banking (product) knowledge Total quality customer service FINANCIAL HIGHLIGHTS TWO YEAR PERFORMANCE (IN MILLION PESO) Results of Operations Gross Income Total Expenses Net Income Financial Condition Total Assets 3, , Loans and Receivables 2, , Total Liabilities 3, , Deposit Liabilities 2, , Total Equity Per Share Basic/Diluted Earnings Per Share Book Value Per Share * SGV audited figures 1 Table of Contents Financial Highlights Message to the Shareholders A Look Back Operational Highlights Corporate Social Responsibility Board of Directors Senior Management Products and Services Branch Directory
3 MESSAGE TO SHAREHOLDERS DEAR FRIENDS, Strengthening and growing your bank After more than half a century of service, Luzon Development Bank (LDB) has embarked on a new medium term plan that has begun to show early results. We believe that this is the right time to reach out to you our shareholders as your bank starts the next chapter of its upward trajectory and growth. Five-year plan yields significant growth In 2013, LDB not only sustained its growth momentum but exceeded it, along with management expectations. We delivered some surprising figures across all fronts of activity that were milestones even when put against the rest of the banking industry. LDB s sterling performance was a product of putting our newly minted five-year strategic business plan to work. Our plan had very focused goals to bring LDB up to speed in a highly competitive industry. LDB s stated focus areas until 2017 are the following: Growth of our core bank deposit base; Expansion of our loan portfolio; Reduction of non-performing assets; Improvement of operating efficiency; and Enhancement of credit controls. The emphasis on these key areas was vindicated on the very first year of the plan s implementation. LDB attained an impressive asset growth rate of 25.9% that outpaced the local industry average of 15.7%. This surge occurred in concert with a reexamination and improvement across your bank s range of major business activities. The organization implemented initiatives and innovations geared towards strengthening LDB s capability and enhancing operational efficiency. Consequently, nonperforming loans level was decreased significantly by 20% over the previous year. Milestone after milestone We believe LDB s performance in 2013 was best represented by its P37.18 million net income its highest figure since 2008 via a remarkable 1,243.6% growth vs the previous year. As impressive as our net income was, it could have been substantially higher had we not prudently set aside a substantial provisioning for probable losses. Furthermore, LDB bucked the low interest rates that hobbled the industry last year to come up with a net interest income growth of 18.7%. Contributing to this were the significant increases in loans granted to SMEs and consumers. These boast higher margins borne by reduced sensitivity interest-rate changes. Meanwhile, your bank tripled its automotive loans portfolio from P185 million in 2012 to P524 million by end of Increasing shareholder value We worked hard to preserve and further build up LDB s financial standing to advance shareholder value. Total resources grew by 25.9% to reach P3.79 billion yearend 2013 outpacing the industry average of 15.7%. Asset buildup was fueled by an impressive 34.0% climb in deposits from P2.23 billion to P2.97 billion. Lending activities increased by 30.35% year on year to P2.6 billion Your bank s 16.16% capital adequacy ratio (CAR) remained one of the highest in the industry significantly above the minimum 10 percent required by the Bangko Sentral ng Pilipinas. Non-performing loans (NPLs) were reduced by P40 million to P155 million, consequently improving our ratio to 7% from 12% in FELIX K. LIMCAOCO III Chairman/Chief Executive Officer Meanwhile, LDB s total operating income grew significantly by 18.7% to P245 million, owing to a stable base of accrual income, expansion of our loan portfolio and other earning assets, plus the ability to source funds at relatively lower cost. Your bank continued to reap gains from its continuing expense rationalization program highlighted by branch realignments and manpower productivity measures. New approaches to customer relationships During the year, LDB continued to improve its delivery of product and service solutions more keenly attuned to the evolving needs of its clients. Your bank became a member of the Philippine Clearing House Corporation (PCHC), which made improved our clearing cut-off time now at par with bigger banks. LDB is also now a proud member of BancNet, and is now directly capable of acquiring and issuing electronic transactions. Other services like ATMs, point-of-sale (POS), Internet banking, and mobile banking are now available to our valued clients as we are now on line. To reward our customers for their continued loyalty, we ran a sales promotion in early Clients who open an account or at least add to their existing deposits earned raffle tickets. Forward to the future Even as we have already realized gains from our fiveyear plan, we remain confident in sustaining our growth momentum well into the future. If anything, the positive changes registered in 2013 have primed us for new and even bigger things ahead. Despite global economic uncertainty, LDB looks to the future with fresh optimism armed with our range of achievements in terms of products, service delivery, customer relationships, and operating and financial efficiency. NORMAN V.C. AYCOCHO SVP/Chief Operating Officer Now with 40 branches covering Metro Manila, the Calabarzon region, and beyond, LDB remains steadfastly committed to growth along its road to tomorrow anchored on the aforementioned five focus areas. Throughout our journey, we have counted upon the humbling, unwavering loyalty and confidence of our customers and shareholders, for which we are profoundly grateful. We are also thankful to our employees who remain committed in pursuing the bank s vision. Sincerest gratitude is also due our board of directors for their valuable support and guidance in all our undertakings. Here s to realizing all the promises of tomorrow for LDB and all of us. FELIX K. LIMCAOCO III Chairman/Chief Executive Officer NORMAN V.C. AYCOCHO SVP/Chief Operating Officer
4 A LOOK BACK TO BEGINNINGS AND A LEGACY OF BANKING WISDOM 4 5 RENE H. LIMCAOCO ( ) Founder FELIX H. LIMCAOCO, JR. ( ) Chairman Emeritus Laguna was an entirely different place at the onset of the 60s. Back then, much of the province was composed of vast sugar and rice lands and huge swaths of uninterrupted space, totally different from the bustling commercial, industrial, and tourism center that it is today. Laguna was a very different place in Much of it was a verdant expanse of sugar or rice lands huge swaths of uninterrupted space compared to the bustling commercial, industrial, and tourism destination it is today. Prosperous planters fueled the early growth of towns and cities of what is now region 4a, the CALABARZON. That Laguna half a century ago clearly held infinite promise in part born of its close proximity to Metropolitan Manila. Still, the province needed an added push towards financial viability and independence. Wheels of industry needed to be oiled. Only visionary minds clearly divined the massive potential of the region as in the case of founder Rene Limcaoco, his father sugar planter Felix Sr., and younger brother Felix Jr., Dolores Santos, Dr. Leon Castillo, Amparo Hocson, and Don Eduardo Barreto who deemed it not only appropriate, but extremely essential to establish a bank that would keenly address the requirements of Laguna s hardworking people. In those days, all of the action for big-name banks lay in Manila and its thriving enterprises. It took a fair amount of risk and determination to look southward TEAMWORK. TRUSTWORTHINESS. TENACITY. with a new bank. They named the bank LDB, short for Laguna Development Bank. Almost in no time, the bank was an institution and a standard. Your bank became the largest private development bank in the country. Felix Bing Limcaoco Jr was the president and the bank started to dream even bigger reaching more people and enabling them to realize their own aspirations: agricultural projects, small- and medium-scale industries, commercial establishments, homes and cars, or simply a better future for themselves and their loved ones. This is an enduring testament to the organization s clarity of purpose as well as an unwavering commitment to positively influencing the lives of more Filipinos. After finishing his course in electrical engineering at the University of the Philippines and a Masters Degree from Cornell, Limcaoco placed fourth in the 1952 board examinations. However, your bank s future chairman emeritus would venture into banking rather than a profession that tapped his formal education. He had a stint with the Philippine National Bank s management ranks, then further honed his skills by taking up industrial finance in London School of Economics on a Colombo scholarship. Along with an innate skill, the training further honed Limcaoco s acumen in banking. LDB s operations and strategies were then, as they are now, founded on simple yet powerful values he defined. Teamwork. Trustworthiness. Tenacity.
5 A LOOK BACK TO BEGINNINGS AND A LEGACY OF BANKING WISDOM 6 7 At the crux of it all is what is now our key competitive advantage our personal, friendly touch. Our late chairman emeritus Felix Limcaoco Jr. s command to bring the bank closer to the people resonates no less clearly today as when he first uttered it decades ago. LDB, he had also said, should also be always conscious of our responsibility in nation building of achieving economic growth translatable in terms of social, regional, and human improvements. Your late chairman emeritus also had said: To be an effective tool in nation-building, a bank should be a catalyst in the action of the various factors of production, such as capital, labor, etc. This way, a bank helps make development faster because people are able to avail of long-term credits. Normally, people don t invest until they see that it s a sure thing. After a while, we were able to convince them. When they see that you ve put in good money and, with good earning and dividends records, people start investing on their own volition, Limcaoco had declared during a 1970s interview for a nationally circulated newsmagazine. Felix Bing H. Limcaoco s presence was felt at LDB for almost 50 years, until he passed away in Pillared on these tenets, your bank found its stride. Starting with 10 staff in one location (Calamba), and today boasts a network of 40 branches all over Metro Manila and Luzon, with a focus on CALABARZON. To better reflect its expanding territory, your bank was rechristened LDB - Luzon Development Bank. GROWTH IS DIRECTLY DEPENDENT ON OUR CUSTOMERS. Still growth without maintaining quality of service rings hollow. Thus, LDB continued to commit to providing valued customers with quality banking services services that distinguished the bank from bigger competitors because they were personalized, quick, and friendly. In addition, LDB displayed its trademark prudence in handling all assets entrusted to it realizing that the institution s growth is directly dependent on our customers. Most importantly, your bank s continued success is a heartening indicator of constant trust by a growing community of clients that we serve. Fifty-three years on, we remain grateful of this, and do not take it lightly. LDB continues to find ways to meet the evolving needs of our customers. As Laguna, Luzon, and the whole country prosper, we vow to always be ready to serve as best as we can. Today, LDB continues to dream of bigger things even as record growth in all fronts was realized in These results vindicated a comprehensive five-year strategic business plan that brings the bank up to par with industry standards while maintaining its key competitive advantage in knowing the region and its people better than any competitor. Our unique heritage and position in industry and society helps LDB better appreciate its role in giving a helping hand to our neighbor whoever and, now, wherever they may be.
6 8 9 OPERATIONAL HIGHLIGHTS RENEWED VISION YIELDS SUCCESS IN ALL AREAS Our efforts at taking a long hard look at your bank and its operations were vindicated. Coupled with the initiation of a five-year, five-pronged business strategy to grow our core bank deposit, expand our loan portfolio, reduce non-performing assets, improve operating efficiencies, and enhance credit controls, LDB delivered growth on all fronts. This is thus the overriding theme of operations reflected in the numbers we mustered in BRANCH BANKING Your bank s sterling 2013 performance was mainly propelled by the growth of our branch banking segment, whose deposits increased by 34% as evidenced by average daily balance. We surpassed last year s total deposits growing from P2.22 billion to P2.98 billion a result that was also achieved by leveraging our 52-year experience and lasting relationships in the areas we operate in the increasingly progressive Calabarzon area. We also launched an internal deposit campaign in the first term of 2013, which brought about an estimated P million in new funds. This set the pace for consistent deposit growth of deposit up to yearend To improve customer experience and LDB s overall penetration of high-growth areas, new initiatives to heighten awareness of the bank were made. We proactively joined town fiestas and other community activities connecting to the people who have always been at the core of our business. LDB reached out to them in Laguna, Batangas, Cavite, and Metro Manila. To better reflect our renewed vigor and focus, LDB embarked on an image-building program piggybacked on the creation of a new bank logo that was depicted in all 40 branches. A common identity wall was put up as the tellers backdrop, along with a so-called heritage wall throughout the network of branches. Continued efforts were undertaken to re-energize the branches capability as primary distribution channels for loans by creating dynamic product streamers auto, housing, and business loans. Closer collaboration between the branches and other business units improved cross-selling of consumer and business loans. To a great extent, this holistic effort was a tangible beginning of a new way to value customer relationships across the institution. CONSUMER BANKING Consumer lending reached new heights in 2013, as LDB s consumer loan portfolio grew by 40.12%. You bank capitalized on the favorable prevailing interest rates during the year, that spurred auto loan borrowings.
7 CONTROLLED CLIMATE SYSTEM HOG GROWING HOUSE OPERATIONAL HIGHLIGHTS CONTROLLED CLIMATE SYSTEM POULTRY FARM Car loans booked jumped 183% from the beginning of 2013, on the strength of improved turnaround time, sales-channel optimization, and an internal sales incentive referral program. Meanwhile, we stepped up marketing efforts and realized/ strengthened synergies with key business partners. The end result is to make consumer loans more accessible to the target market. In 2013, the Business Development Division (BDD) underwent reorganization to enable it to focus on market and business development. In particular, the credit evaluation function was spun off to a separate unit. Continuous improvements in credit processing and documentation were also undertaken to make sure that the BDD is in a better position to meet market demands. CORPORATE BANKING LDB s business loan portfolio grew by 29.91% as the bank s Business Development Division (BDD) embarked on an aggressive marketing and credit risk management strategy that emphasized generating new partnerships, strengthening existing relationships, and improving lending infrastructure. During the year, the bank focused its efforts on improving presence in the small- and medium- enterprise (SME) market. Loans to SMEs grew by 24.8% from P637 million to P795 million achieved through focused lending activities, a comprehensive approach in account management, and new account acquisitions. Your bank prioritized credit requirements of businesses belonging to the agricultural and commercial sectors further enhancing LDB s reputation as a proactive and dependable business partner for their financing requirements. ASSET MANAGEMENT LDB aggressively worked on various strategies in reducing the number of foreclosed properties. The upswing in the real estate market, coupled with the implementation of new programs and strategies, enabled the bank to dispose of P157.9 million in ROPA in REMEDIAL MANAGEMENT The bank continued to make significant headway in reducing nonperforming loans in 2013 slashing from 8.8% to 6.9% due to aggressive collection efforts, enhancement of credit policies, and the realignment of credit functions to improve management of distressed accounts. The bank continued to adopt a proactive stance by conducting portfolio review and stress testing of loan accounts to determine which clients were vulnerable to negative developments. For those with no clear prospects of business recovery, foreclosure and dacion en page arrangements were promptly instituted.
8 CORPORATE SOCIAL RESPONSIBILITY Caring for Young People through the Limcaoco Foundation Foremost in the minds of the founders of Luzon Development Bank is the responsibility it holds towards the community. More than financial gains, the company is guided by the principle of working for the good of the greater majority. Working closely with the Limcaoco Foundation, LDB has centered its CSR projects on the young, as it is the youth who are the promise of the future. The Limcaoco Foundation provides health and education assistance to young, deserving people of the CALABARZON area. It was Dr. Felix T. Limcaoco, Sr. who planted the seeds of the foundation. He was a doctor by training but spent most of his efforts developing sugar plantations in the Laguna province. Upon his passing, his son Felix Limcaoco, Jr. took over the reins of the foundation. There are four major projects of the Limcaoco Foundation: The Angels in Heaven Elementary Classes, The Cabuyao Children s Center, The HOPE Program, and The Reading Habit: Learn To Love Reading At An Early Age. ANGELS IN HEAVEN ELEMENTARY CLASSES Through the assistance of the Angels in Heaven Elementary School, the Limcaoco Foundation sponsors 2 Kindergarten classes with a maximum of 25 students per class. This is open to lower-income families. One good feature of this project is the active participation of the parents in all school activities as education is not only the responsibility of the school but the parents as well. THE CABUYAO CHILDREN S CENTER The ancestral home of the Limcaoco s is now the center of learning for children of all ages. Currently, it is the home of the two kindergarten classes of Angels in Heaven Elementary School and the Children s Library. THE HOPE PROGRAM The Limcaoco Foundation also cares for out-of-school youths with the help of the HOPE Program (Holistic Professional Excellence) Training Program. This aims to teach the out-of-school-youth with skills to help them find a job and likewise to mold them to become responsible and productive members of society and their family. Structured learning is provided through a seminar-workshop in Professional Attitude, Character Team Initiative and Values Enhancement. To complete the holistic learning model and to give them a competitive advantage, a Basic Communication Skills Training is also provided THE READING HABIT: LEARN TO LOVE READING AT AN EARLY AGE The new forms of media and entertainment have encroached on the position that Reading once had. Reading once provided the main bonding moment between parents and children. Parents then would put their children to sleep by reading a fairy tale. Knowing the importance of reading, the Limcaoco Foundation launched the Reading Habit Project. This is a reading class held thrice a weekly at the Cabuyao Central Elementary School. Story telling, vocabulary retention, read-a-thon contest, reading comprehension are some of the highlights of the project. Furthermore, the ancestral home of the Limcaoco s houses the Reading Room that provides underprivileged children access to classic and contemporary books and other developmental forms of learning. Corollary to these four main projects, the Limcaoco Foundation takes care of the members of its community by being one of the first responders when disaster strikes like the Habagat in Relief goods were immediately distributed to the affected barangays and their families. One s success in business is not only measured in net profits; but more so about how much one has given of oneself to the community it serves. Definitely, Luzon Development Bank has succeeded and exceeded expectations. ANGELS IN HEAVEN ELEMENTARY CLASSES THE HOPE PROGRAM THE CABUYAO CHILDREN S CENTER RELIEF GOODS WERE IMMEDIATELY DISTRIBUTED TO THE AFFECTED BARANGAYS AND THEIR FAMILIES AFTER HABAGAT 2012 THE READING HABIT: LEARN TO LOVE READING AT AN EARLY AGE
9 BOARD OF DIRECTORS Front row: FELIX K. LIMCAOCO III, Chairman; and ATTY. RENE K. LIMCAOCO, Director Back row: DR. LEONIDO C. CASTILLO, Independent Director; DR. FRANCISCO L. ROMAN, Director; and OSCAR S. RAMIREZ, Director Front row: JOSE ANDRES A. LIMCAOCO, Director/Corporate Secretary; ANTONIO L. LIMCAOCO, Vice Chairman; and ISIDRO L. HEMEDES JR., Independent Director; Back row: ATTY. DON D. VILLAMAYOR, Director; TOMAS V. CLEMENTE JR., Independent Director; and JOSE MARIE L. RAMOS, Director/Corporate Treasurer
10 SENIOR MANAGEMENT SVP NORMAN VIC C. AYCOCHO Chief Operating Officer SVP CAESAR M. LEOPANDO Head, Business Development Division SAVP FRANCISCO A. CAPARAS Head, Accounting SAVP MERCEDES B. MARGALLO Chief Legal Counsel and Head, Legal Department SAVP LUNINGNING C. BELEN Chief Compliance Officer SAVP FERLAN A. BALBIDO Head, Branch Banking SAVP MELISSA M. BARO Assistant Corporate Secretary, Head, Legal Documentation SAVP EDWIN I. MAGHIRANG Business Center Head, Laguna SAVP LEODEGARIO B. TUMLOS Head, Credit Management Department AVP MARILYN V. SILVA Area Head, Laguna AVP ELVIRA L. MALIKSI Area Head, Batangas AVP YLETTE D. RENTERO Area Head, NCR and Cavite AVP ROBERTA S. REMOLACIO Head, Branch Operations AVP CESAR D. NAPALLAD Head, Acquired Asset AVP FEDERICO B. CASTILLO Head, Credit Services Department AVP MA. CLARITA C. DICTADO Head, Human Resources AVP RANDY C. CARTABIO Business Center Head, Batangas AVP DEANNE K. ENCISO Business Center Head, Cavite and Makati SM ARNEL P. CAMPOS Head, Treasury SM LENY A. UBANA Head, Internal Audit MGR DINA R. LUPIG Head, Management Information System MGR CESAR D. HERRERO Head, Admin MGR DENNIS D. YSON Head, Collection MGR DOMINIC O. LIM Head, Information Technology
11 PRODUCTS AND SERVICES DEPOSIT SERVICES Regular Savings Account Savings Account is an interestbearing deposit account evidenced by a passbook, subject to withdrawal slip and passbook. The required initial deposit is P500.00; maintaining balance is P100.00; required Average Daily Balance (ADB) to earn interest is P3, Business Savings Account (BSA) These are Savings Deposits that offer high interest in form of bonus rate provided that the average daily balance (ADB) level for each type is met. These are alternatives to Time Deposit, which are made available for people in business and high net worth individuals. FLEXI Savings Account Flexi Savings is a deposit account, which offers a premium rate provided that no withdrawal is made over a period of time. The covering dates of nonwithdrawal to the account to earn premium rate is called Incentive Period. Flexi Savings is evidenced by a passbook. The required initial deposit is P100, and the minimum incentive period is 60 days. Variable Earner Savings Account A peso denominated savings account evidenced by a passbook. Clients can enjoy competitive rates of a term placement and the flexibility of a savings account. Client can deposit anytime, withdraw three (3) times a month without incurring service charge(s), and earn higher interest as account balance grows. It can be opened thru personal accounts or non-personal accounts. Minimum deposit requirement is P20,000 for personal accounts and P50,000 for non-personal accounts. Young Earner Savings Account A fixed interest bearing savings deposit for children 12 years old and below evidenced by a passbook. This product will help to develop savings consciousness and thriftiness at a young age. Initial deposit requirement is P100 with an interest rate of 1.0% pa. Regular Time Deposit (TD) Are funds deposited in the bank with definite maturity date, earn interest and evidenced by a Certificate of Time Deposit (CTD) issued to the depositor. Interest is paid upon maturity and rates are graduated according to the placement period prescribed by the Bank. Minimum required deposit is P5, Rates to be applied shall be in accordance with Board Rates. TD placement less than 30 days shall not be accepted. Time Earner (Repriceable) Time Deposit A long-term nonnegotiable (tax exempt) peso denominated time deposit with a term of five (5) years and one (1) day, repriceable semi-annually or annually depending on the amount of the deposit. Interest earned is credited monthly to client s assigned savings account and it is evidenced by Time Earner (Repriceable) Certificate of Time Deposit. Minimum deposit requirement is P50, Current Account (CA) A non-interest bearing peso demand account, which is the major source of low cost funds for the Bank. This is offered to individuals or entities for personal or business use. Because of the manner of withdrawals and complexities in operating this type of account, strict monitoring and control is required. In establishing new current account, the character, integrity and business reputation of the client must be determined and reciprocal business offered by the account must also be considered. Initial deposit and maintaining balance for regular CA is P5, A reciprocal savings account may be opened with Automatic Fund Transfer Arrangement (AFTA). Initial deposit and maintaining balance for CA with AFTA is P2, Managers Check - check issued by the bank used mainly for disbursing proceeds of loan or to a third party named customer. ATM and Debit Cards - payment card extended to clients which enables the customer to transact deposit, withdrawal, bills payment and other types of banking transactions through interbank networks CREDIT AND LOAN PRODUCTS The Bank s loan portfolio concentration has always been focused on Small and Medium Enterprises (SMEs). It has provided substantial support to this sector more than the government s mandatory requirement of at least 6% and 2% of the Bank s total loan assets for small and medium enterprises respectively. SMEs refer to any activity or enterprise engaged in industry, agribusiness, trade or services, whether /Individual/single proprietorship, partnership or corporation, with total asset size falling under the following categories: Revolving Credit Line Revolving Credit Line Facility may also be made available to SMEs on short-term basis. This will enable the entrepreneur to bridge temporary shortfall in cash flows and avoid disruption of day-to-day operations of the business Consumption Loan Loans may also be extended to individuals or businessmen who need funds for personal use. This is also secured by acceptable collateral Industrial Loan These are medium or long term loans granted to finance acquisition of fixed assets relative to the establishment or expansion of industrial or agro-industrial projects or any business related to production of goods and services. Real Estate Development Loan- Credit facility extended to buy real estate, prepare it for construction and erect houses. Agricultural Credit Includes all loans granted to borrowers, whether beneficiaries of agrarian reform or not, to finance activities relating to agriculture; processing, marketing, storage and distribution of products resulting from these activities. Home Loan Credit Facility Is a credit facility specifically design not only for Housing loans but also caters acquisition of house and lot, h ouse construction and refinancing of existing housing loans with other banks. Auto Loan - a credit facility designed for acquisition of brand new or secondhand motor vehicles for personal or business use. Purchase Agreement-Contract to Sell This is a credit facility extended by the bank to real estate developers to finance their receivables covered by Contracts to Sell (CTS) with the different buyers/end users, whose purpose is the acquisition or purchase of house & lot or lot. In this facility, the bank will purchase the developer s receivables/cts at a discount covered by a Purchase Agreement. In this credit facility major considerations must be given to both the developers and the existing buyers or end users. The account officer must undertake all requisite credit investigations, financial & credit analysis relative to stability, soundness and profitability of the developer and the paying capacity of the end users/ buyers. This can be entered into either with or without recourse between the bank & the real estate developer. Consumption Loan: Salary Maximizer A credit facility designed to finance all the personal needs of executives and employees of the accredited business enterprises or companies termed as Salary Maximizer Microfinance Microfinance are small loans granted to the basic sectors, on the basis of the borrower s cash flow and other loans granted to the poor and low-income household for their micro enterprises and small businesses to enable them to raise their income levels and improve their living standards Back-to-Back Loans The Bank offers back-to-back credit facility to its depositors. The loan is fully secured by assignment of deposit. This is being encouraged considering that assets and liabilities of the Bank are fully utilized at minimum risk. Bills Purchased Line Clean Bills Purchased (BP) line is a type of quick and clean credit accommodation. It represents the purchase of clean bills, i.e., checks, drafts and other similar instruments, proceeds of which are credit to the customer s deposit account as clear funds. DepEd Automatic Payroll Deduction System for Public School Teachers A multi-purpose salary loan program offered to public school teachers and non-teaching personnel of the Department of Education where monthly loan amortization is assured by DepEd under its Automatic Payroll Deduction System (APDS). MISCELLANEOUS SERVICES 1. Remittance Services Western Union, TetNet 2. ATM Services Bancnet 3. Norkis Payment 4. PLDT, Smart, Smart Bro Payment 5. Globe, Innove Payment 6. Royal Cable Payment 7. BATELEC 8. PhilHealth
12 BRANCHES MAP OF THE PHILIPPINES 20 CALAMBA Burgos St., Calamba City, Laguna T: MAKATI Unit 16, 1048 El Rico Suites, Metropolitan Avenue, Makati City T: LAGUNA H.O ( MAIN ) Paciano Rizal, Calamba City, Laguna T: ALAMINOS Alaminos Public Market, Del Pilar St., Alaminos, Laguna T: / BIÑAN J. Gonzales St., Poblacion, Biñan, Laguna T: CABUYAO J.P. Rizal Avenue, Sala, Cabuyao, Laguna T: CALAUAN G/F Bose Bldg. 2, Geirosa St., Calauan, Laguna T: CANLUBANG Carmel Mall, Jose Yulo Blvd. Canlubang, Calamba City T: LOS BAÑOS Villegas Compound, UPLB, College, Los Baños, Laguna T: PACITA Unit D, Block 6 Lot 50/52, Pacita Avenue, Pacita Complex 1, San Pedro, Laguna T: SAN PABLO Mabini Avenue, San Pablo City, Laguna T: / 3206 SAN PEDRO 1 Luna St., Poblacion, San Pedro, Laguna T: / STA. ROSA Cor. J.P. Rizal Blvd. and F. Gomez St., Sta. Rosa City, Laguna T: BATANGAS BATANGAS CITY Kumintang Ibaba, Batangas City T: BAUAN 26 Binay St. cor. San Rafael St., Poblacion III, Bauan, Batangas T: LEMERY Ilustre Avenue, Lemery, Batangas T: LIPA T.M. Kalaw cor. Mabini Sts., Lipa City, Batangas T: ROSARIO ABS & S Bldg., Carandang St., Brgy. Del Rosario, Batangas T: SAN JOSE Banay-banay I, San Jose, Batangas T: STO. TOMAS Gen. Malvar Avenue, Sto. Tomas, Batangas T: TANAUAN Mabini St., Tanauan, Batangas T: CAVITE BACOOR Unit B. Addio Business Centre Aguinaldo High-way, Brgy. Talaba, Bacoor, Cavite T: / CARMONA JM Loyola St., Poblacion, Carmona, Cavite T: DASMARIÑAS San Agustin St. 3, Dasmariñas, Cavite T: / 0903 GEN TRIAS Gov. L. Ferrer Avenue, General Trias, Cavite T: GMA Congressional Avenue, San Gabriel, GMA, Cavite T: NOVELETA General L. San Miguel St., Poblacion, Noveleta, Cavite T: TANZA A. Soriano Hi-way Daang Amaya, Tanza, Cavite T: TRECE MARTIRES Brgy. Luciano, Trece Martires City, Cavite T: QUEZON CANDELARIA Argao - Bustamante St., Candelaria, Quezon T: SARIAYA Gen. Luna St., Sariaya, Quezon T: TIAONG Doña Tating cor. Umali Sts., Tiaong, Quezon T: RIZAL CAINTA Unit C-Jek Bldg., 19 Ortigas Avenue Extension, Cainta, Rizal T: NUEVA ECIJA GAPAN JPM Bldg., Maharlika High-way Brgy. San Vicente Gapan City, Nueva Ecija T: METRO MANILA LAS PIÑAS 577-A Alabang-Zapote Road, Almanza Uno, Las Piñas City T: MARIKINA J.P Rizal St., Brgy. Sta Elene, Marikina City T: MUNTINLUPA Corronado Bldg., Tunasan, Muntinlupa City T: PARAÑAQUE San Antonio, Shopping Center, San Antonio Valley 1, Sucat, Parañaque City T: PATEROS AJ Bldg., 38 M. Almeda St., cor. Martirez del 96 St., Pateros T: TAGUIG Unit -13, Karport, 32nd St., Bonifacio Global City,Taguig T: Nueva Ecija Metro Manila Cavite Batangas Rizal Laguna Quezon
13 Paciano Rizal, Calamba City, Laguna