Cebuana Lhuillier, LBC team up
Microfinance services provider Cebuana Lhuillier and logistics provider LBC Express Inc. have teamed up to scale up their footprint in the highly competitive remittance business.
The partnership is seen as a practical step to dominate the last mile in the local money transfer business.
Leveraging on Cebuana Lhuillier’s 2,500 branches nationwide and LBC Express’ 1,400 cargo and logistics facilities, the partnership will provide Cebuana Lhuillier clients access to a wider range of domestic remittance facilities, leading to more convenient and more accessible money transfers to their recipients.
“For more than 30 years, we have been committed to ensuring that every Filipino will have access to the financial services they need. This partnership with LBC Express is a testament to our company’s decades-long commitment to provide relevant services by continuously expanding our reach, developing more innovative platforms, and exploring more untapped channels to enable the unbanked and underbanked Filipinos better access to financial services,” said Jean Henri Lhuillier, Cebuana Lhuillier president and CEO.
Cebuana Lhuillier senior executive vice president Philippe Andre Lhuillier added: “Both Cebuana Lhuillier and LBC are known in the industry for providing linkages to Filipinos and their loved ones. Through this partnership, KaCebuanas, regardless of their location in the Philippines, will have access to additional domestic remittance outlets available nationwide through LBC’s network.”
“This joint venture will allow us to expand our services, offer more convenient and innovative solutions and, ultimately, move more lives. This meaningful tie-up is in line with our mission to bring our services closer to everyone,” said Miguel Angel Camahort, LBC Express Holdings president and chief executive.
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