Cebuana Lhuillier to expand network

Cebuana Lhuillier Services Corp. expects the amount of remittances it facilitates to grow between 30 and 40 percent this year, and to expand further over the medium term as it partners with an international money transfer firm to capture a bigger market of overseas Filipino workers.

With its bullish outlook, the company intends to put up 200 more remittance outlets nationwide over the next two years. Currently, it has only 30 “Pera Padala” outlets, mostly located inside malls.

In a press conference Friday, company president PJ Lhuillier said the partnership with RIA Financial Services, which operates in 136 countries, will help Cebuana Lhuillier serve the remittance-facilitation needs of more OFWs.

To complement the partnership, Cebuana Lhuillier, the remittance arm of PJ Lhuillier Inc. that has pawning as its core business, will establish more remittance centers so that its services will become more accessible to more OFW beneficiaries. Michelle V. Remo