Marayo Bank Inc. held a groundbreaking ceremony for its new branch in Sara, Iloilo recently, to officially start the construction of its building at the national highway in Brgy. Anoring.
The ceremony was officiated by Rev. Fr. Ignacio Bercades Jr., and attended by Engr. Jeucel Dulos of Exseed Construction Services, Eva Mae Dela Cruz – area manager, Leonora Turalba – chief compliance officer, Marlon Armada – OIC Passi Branch-Lite Unit, Edmund Panes – marketing, and Reggie Franco – marketing coordinator, a press release from the rural bank said.
The expansion of its Sara branch is part of the program of Marayo Bank of expanding its well-known reputation for fast and efficient service to the people in the communities that the bank has its presence, particularly the unserved population in rural areas.
With its Sara branch, the bank will now be able to serve the whole northern part of Iloilo province and parts of Capiz province. For its Iloilo operations, it has branches in Banate and Passi City to serve northern Iloilo, and Oton for Iloilo City and southern Iloilo.
In the last 10 years, Marayo Bank registered rapid growth in terms of profitability and resources. Its financial ratios, such as return on capital, return on assets, and capital adequacy ratio, which are benchmarks used by the Bangko Sentral ng Pilipinas in measuring the capitalization of banks and financial stability, are much better than the industry standards, both for universal banks, commercial banks, and rural banks, the press release said.
Most of the branches and branch-lite units are located in Negros Occidental, especially San Carlos City, Cadiz City, E.B. Magalona, Bacolod City, Pontevedra, Binalbagan, Kabankalan, and Hinoba-an.
Marayo Bank Inc. is headed by Franklin Fuentebella as chairman, with Vicente Javellana Jr. as the president/general manager, the press release added.*