Cebuana Lhuillier Bank expands footprint nationwide

MANILA, Philippines — Cebuana Lhuillier Bank is increasing its footprint nationwide, opening its first branch in Cebu City as it further expands in the Visayas region while planning to put presence in Mindanao before the end of the year.

Cebuana Lhuillier Bank president Dennis Valdes said the company continues to reach out to mom-and-pop businesses and to micro, small, and medium enterprises (MSMEs) whose operations definitely need a boost following the challenges brought to the economy these past two years.

“MSMEs have always been the backbone of our economy, with 99 percent of total businesses in the Philippines considered falling under this sector. They are also a major source of employment, and also a major contributor in our total export revenues. However, in spite their huge contributions to the economy, MSMEs often lack financial resources that will help in their growth and development,” Valdes said.

The opening for the first ever branch in Central Visayas located in Acacia St., Brgy. Kamputhaw, Cebu City intends to help more than 65,000 MSMEs looking to further grow their business.

Jean Henri Lhuillier, president and CEO of PJ Lhuillier Group of Companies, said the company continues to be guided by its mission of financial inclusion.

“We make sure that this is reflected in all the products we offer in our companies, and a vital part of how we extend our services to the millions of Filipinos who rely on us for their micro financial needs. Our banking arm, Cebuana Lhuillier Bank is guided by this vision—from their ground-breaking micro savings product which empowered close to six million Filipinos to start saving for their future, to their expansion plans to Visayas and Mindanao,” Lhuillier said.

Cebu Lhuillier Bank offers housing loans and business loans in the province. With low interest rates, fast application process, and flexible loan payments, the rural bank aims to empower MSMEs and business owners by providing a maximum P300,000 for business loan.

Aside from business loans, one of the country’s largest rural banks also offers housing loans, as well as teachers loan, and motorcycle loan products.

The bank has five branches nationwide and is expected to reach Mindanao region before the year ends.

As the banking arm of micro financial services giant Cebuana Lhuillier, it recently tapped the industry leader to serve as its cash agent, utilizing Cebuana Lhuillier’s more than 3,000 branches nationwide for its micro savings product.