MANILA, Philippines—Philippine Bank of Communications (PBCom) seeks to grow its consumer lending portfolio with the rollout of a personal loan package for qualified professionals, business owners and salaried employees.
The personal loan package caters to clients with finance needs that may fall beyond their day-to-day expenses.
“The PBCom Personal Loan is a cash solution offered to clients to finance special needs, such as tuition fees, medical expenses, home improvement, and car repairs,” PBCom convenience banking head Kevin Lynch said in a press statement on Wednesday.
The personal loan may also be used to finance special events such as weddings, purchase of appliances or furniture and vacations or travel.
Borrowers could avail of loan amounts from PBCom ranging from P40,000 and P1 million with “affordable” monthly installments and “competitive” interest rates, with terms of 12 to 48 months.
The new product is in line with PBCom’s efforts at offering one-stop banking products and services, according to banking officials. This adds to the bank’s auto and home loan solutions for consumers, as well as a menu of corporate loans for business needs.
The bank sees strong demand for this project. “There is a large number of Filipinos with this type of financing requirement and we have designed the personal loan to be an attractive option for these clients,” Lynch explained.
PBCom also recently unveiled a new corporate identity that embodies its aspiration towards “the delivery of next level banking.” Its new corporate logo, consisting of a golden-orange circle with a stylized calligraphy brush-stroke of a dragon’s head, is described as “fresh and young” and meant to attract a multi-generational client base.
The circle represents the bank’s image as a “confident, vigorous institution that continues to honor its commitment to deliver profitable and sustainable growth to its stakeholders in a perpetual, unbroken cycle.”
Known for being protective of its treasures, the dragon is meant to symbolize the way PBCom “provides an environment of safety, security, and growth.”
The commercial bank, with a legacy of close to 75 years, is currently renovating its branches and upgrading infrastructure to enhance overall customer experience. It is also investing significantly in its technology platform, expanding client offerings, and streamlining processes.