CARD Bank opens branch in Tabaco City
In its bid to promote financial inclusion, CARD Bank, a microfinance-oriented rural bank, opened its 98th branch in Tabaco City, Albay on January 18, 2021.
The branch will cater to 29,626 microfinance clients who were originally part of Legazpi Branch. Having this new branch will bring bank services closer to clients of nine branch-lite units in the municipalities of Tabaco, Tiwi, Bacacay, Malilipot and Malinao. As well, these two branches will have better opportunities to expand.
This will fully reach more unbanked and underbanked families in the province. According to CARD Bank Regional Director Wilma Laurio, the branch is expected to deliver financial banking products and services to 31,000 clients by the end of the first quarter.
“These clients, who mostly came from the socioeconomically challenged families, will have equal opportunities to access affordable and useful financial products and services,” said CARD Bank President and CEO Marivic Austria. She added that financial inclusion is one of the solutions to break the endless cycle of poverty.
Aside from offering microfinance, SME and other loan products, CARD Bank also promotes a better saving habit for every client it serves. For as low as PHP100, its clients can now open their savings account. This will encourage them more to become conscious about saving for their future.
CARD Bank also has a remittance service called CARD Sulit Padala. Together with CARD, Inc., CARD SME Bank, and CARD MRI Rizal Bank, clients who need remittance services can send or transfer money in more than 900 branches nationwide. For as low as PHP1, senders can transfer money to their loved ones to meet their financial needs.
The new branch will also be part of CARD Bank’s digitization journey which is even more intensified because of the pandemic. “During the pandemic, the digital services of the bank showed a crucial role to constantly provide its services even with the presence of physical barriers. These digital efforts brought convenience and safety to our clients,” said Austria.
The branch is located at Purok 1, Brgy. Pawa, Tabaco City, Albay. The opening was graced by CARD Bank President Marivic Austria, CARD Bank Executive Vice President Lourdes Dijan, CARD Bank Vice President for Operations Glenda Magpantay, and CARD Bank Assistant Vice President Raquel Zaragoza. It was also attended by CARD Bank Chairman Dr. Jaime Aristotle B. Alip, CARD Bank Senior Advisers Dr. Dolores Torres and Lorenza Bañez, and CARD MRI Managing Director Flordeliza Sarmiento via online conference.
To date, CARD Bank has more than 3.4 million clients served all over the country.