Marayo Bank Inc., a rural bank, inaugurated and blessed its newest branch in Sara, Iloilo Dec. 20, officiated by Rev. Fr. Ignacio Bercades Jr., Mary Mother of Mercy Mission Station Missionary Servant of the Poor based in Ivisan, Capiz.
The ceremony was attended by Sara Mayor Jon Onick Aying, Maria Teresa Jesusa Carmela Ortiz – board of director of Marayo Bank, Engr. Jeucel Dulos of Exseed Construction Services, Marayo Bank’s senior management officers, businessmen, and other local officials.
The opening of the Sara branch is part of Marayo Bank’s program of expanding its well-known reputation of delivering fast and efficient services to people in communities where the bank is, particularly the unserved residents in rural areas.
With its Sara branch, the bank will now be able to serve the whole northern Iloilo and Capiz province. For the Iloilo operations, it has banking units 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 and financial stability of the banks, are much better than the overall industry standards, for universal banks, commercial banks, and rural banks.
This year, Marayo Bank put up two bank offices, one in Sara, Iloilo and the other one in Mandalagan, Bacolod City.
Marayo Bank has more branches and branch-lite units in Negros Occidental, particularly in San Carlos City, Cadiz City, E.B. Magalona, Bacolod City, Pontevedra, Binalbagan, Kabankalan City, and Hinoba-an.
The bank has now 13 banking units all over Western Visayas.
Marayo Bank Inc. is headed by Franklin Fuentebella as chairman, and Vicente Javellana Jr. as president and general manager. — PR
