Bukidnon rural bank extends to other Mindanao areas

AHB opened two more Bukidnon branches, in Quezon town in January and in Valencia City,in February, bringing to seven its branches in Bukidnon, Talatala today said.


Quezon is the site of the Bukidnon Sugar Company, the first sugar milling company in the province.


Valencia City is the province's primary commercial center.


Talatala said this is part of the bank's plan to open 10 new branches this year in time for their 10th anniversary celebration.


AHB marked its 10th year on February 22 in formal celebrations here.


The Bangko Sentral ng Pilipinas approved the opening of the new branches last year as well as the merger of another rural bank in Opol, Misamis Oriental with an AHB branch, Talatala said.


He said the bank has eyed opening branches in the cities of Gingoog, Iligan, Davao, Cebu and Manila.


But AHB clarified the openings were just business centers which will gradually be converted into full-fledged branches, to focus on micro-finance and agricultural loans.


Estelito Marabe, AHB president, announced in April that the bank ended 2007 with P245 million in assets.


He vowed to end 2008 with P300 million in assets and attain an annual increase of P100 million for the next two years. He described Bukidnon's economy as "bullish".


AHB's subsidiary, Hills Small Loans, has 15 branches in the Visayas and Mindanao regions.