Amidst the high uncertainty surrounding the economy, the bank posted a 13% increase in its resources and liabilities for the first quarter of the year, bringing its total resources up to PhP 4.09Billion, as of April 30, 2009. On the income side, Malayan Bank is currently above its year-to-date target by 45%. Martirez is confident that the bank will meet its 2009 target, despite the country’s volatile economic and political situation. “2009 will surely be a banner year for Malayan Bank. We continue to generate robust earnings and are on track to meet our goal of being among the top ten thrift banks within the next 5 years. Furthermore, the Board of Directors decided to increase the bank’s capitalization to PhP 2.0Billion (subject to the approval of the Bangko Sentral). This will be another catalyst to the bank’s relentless growth,” Martirez said.

Malayan Bank currently manages 12 branches, 8 of which are located within the greater Metro Manila, while 4 are scattered in Visayas and Northern Luzon. The bank will open 4 more provincial branches this year, bringing up the branch count to 16 sites.

In line with its expansion program, Malayan Bank remains focused on the radical makeover of its banking infrastructure. In fact, the bank has forged a 3-way partnership with IP-Converge, a leading Information Technology company, and Nucleus Software, a leading software powerhouse providing innovative software solutions for financial organizations globally. Malayan Bank is expecting to have its upgraded and fully-automated system in place by September 2009.

Martirez attributes Malayan Bank’s sound performance primarily to its value proposition of offering competitive investment products, flexible loan packages and exceptional sales programs for their customers.

Malayan Bank is a savings and mortgage bank established in 1996 by the shareholders of GMA-7 Broadcast Network, Majalco Group of Companies, Liberty Flourmills and LINQ Information Quadrant Corp, a subsidiary of Philippine Daily Inquirer. The bank provides comprehensive financial assistance with its array of loans and deposit products. Malayan Bank’s customer service officers may be reached at (632) 814-0884.