CARD Bank, Inc. opens historic 100th Branch

As part of its 25th anniversary celebration, CARD Bank, Inc. opened its 100th branch in the historical city of Manila on September 12, 2022.

The branch opening was attended by CARD MRI Founder and Chair Emeritus Dr. Jaime Aristotle B. Alip, CARD MRI Managing Director Aristeo A. Dequito, CARD Bank Senior Management Adviser Dr. Dolores M. Torres, CARD Bank President and CEO Marivic M. Austria, CARD Bank Independent Board Member, Mr. Arthur Bautista, management, staff, and clients.

The new branch is located in Sta. Cruz, a historical district in the northern part of the city of Manila. According to Austria, this location is specifically chosen to mark this milestone in the history of the microfinance-oriented rural bank. “Establishing our 100th branch in the capital of the Philippines is a reaffirmation of our continuous commitment to providing Filipino families with access to financial, non-financial, and community development services towards poverty eradication,” she stated.

“This success will not be possible without the unwavering passion and collaborative efforts of the whole CARD MRI. So, as we go beyond what is ordinary, let’s continue embracing our main goal of uplifting the lives of our fellowmen until no one is living below the poverty line,” Dr. Jaime Aristotle B. Alip stated.

In 1997, CARD Bank, Inc. obtained its license from Bangko Sentral ng Pilipinas as a microfinance-oriented rural bank. Then on September 1, 1997, it opened its door to the public in San Pablo City aiming to empower socially and economically challenged families through continuous access to diverse financial, microinsurance, educational, livelihood, health, and other capacity-building services. Since then, CARD Bank has expanded its operations nationwide.

With its existing 99 branches, it has already served more than 3.8 million clients with a loan outstanding of PhP12.58 billion with 98% repayment rate. “We believe that this expansion will bring us closer to our goal of nation-building. We are looking forward to serving more Filipinos in the years to come,” Dr. Torres, who also served as CARD Bank’s first president, explained.

International partners also gave inspirational messages including the Women’s World Banking Director Gil Lacson, who congratulated CARD Bank, Inc for having a “DNA of an unselfish dreamer” which has been passed on as time passes by and even under different leaderships. Managing Director Niclaus Bergmann and Klaus Kremmer of German Sparkassenstiftung have also sent their congratulatory video message wishing the institution success in providing inclusive financial and non-financial services amidst changes and challenges.

“CARD Bank, Inc. has once again proven that it is indeed a catalyst for change in our community. We are now ready to level up our services to serve more clients in different communities,” said Dequito. The Managing Director also emphasized CARD Bank’s efforts to further close the gap for the financially included through its digital initiatives like the konek2CARD mobile app and CARD Sulit Padala, a remittance service available all over the country.

Through innovations, digitization, and passion for its mission to eradicate poverty, CARD Bank, Inc. together with other reinforcing institutions of CARD MRI will continue to evolve its services to serve more marginalized communities and help Filipinos across the nation to have a better life.