BSP grants trust license to Malayan Bank
Malayan Bank, a savings and mortgage bank owned by Majalco Inc., LINQ Corporation, Liberty Flourmills and some of the major shareholders of GMA Network, was granted a license to engage in trust and other fiduciary business by the Monetary Board last July 24, 2008.

Malayan Bank looks forward to providing its clients with more options to maximize wealth potential and realize their short-term and long-term financial goals. “The bank aims to offer basic trust products such as administratorship, custodianship, escrow, and investment management to its clients by the First Quarter of 2009. These products will be in addition to the bank’s wide array of products and services,” Malayan Bank’s President, Mr. George J. Martirez said.


Malayan Bank enjoyed a robust first half for 2008. Total resources reflect a 60% increase versus 2007 figures while net income for the first semester shows a growth of 50% versus last year. “With our sturdy financial foothold, strong shareholders’ support, and branch network expansion, we are confident that Malayan Bank will surpass our 2008 budget and continue to deliver healthy, sustainable profits on a long-term basis,” added Mr. Martirez.