Home PEx Business and Careers Banking and Finance

Wealth Bank : Deposits

piquanteyepiquanteye Member PEx Expert 🎖️
edited April 2019 in Banking and Finance
Wealth Bank Depositor's Thread (Metro Retail Stores Group Inc - Metro Gaisano)

WEALTHBANK’s beginnings go back to the year 2002 when VICSAL Development Corporation or what is now the Metro Retail Stores Group Inc. acquired Danao City Development Bank, a financial institution that has been in operation for 35 years.The bank was renamed Wealth Development Bank or WEALTHBANK, with equity participation by the Development Bank of the Philippines and the Land Bank of the Philippines.From just one branch in 2002, Wealthbank has expanded to sixteen (16) branches nationwide, seven in Metro Cebu, four in Visayas and Mindanao, and five in Luzon in a span of ten years. With total resources reaching PHP 6.4 Billion; deposit liabilities at PHP 5.8 Billion; loan portfolio at PHP 3.2 Billion; and capital at PHP 492 Million.

The Bank leaped in total assets ranking from 28th in 2010 to 19th in 2015 and 9th in Solo Thrift Banks category. With these, the bank’s growth in the last twelve years is considered phenomenal.In 2010 WealthBank joined the BANCNET ATM Consortium and put up sixteen ATMs located in shopping malls for convenient access to its cardholders.WealthBank is being run by a core management team of professional bankers and over 300 competent and dynamic employees. Led by its Chairman Dr. Edward Gaisano, its President Gregorio B. Anonas III and the Board of Directors, the Bank is strongly committed in building a Customer-centric culture that delivers a delightful and memorable banking experience at all customer touch points. WealthBank puts the Customer at the heart of the organization.To answer to the ever-growing needs of its Customers, WealthBank continuously innovates products and services. Its banner deposit products --- POWERMAX for individuals and POWERPLUS for corporations. POWERMAX’s ei8ht finite ways has three main features -- a checking account with check book, record book and ATM card, and five access points -- the Branch, ATM, Internet, Mobile and POS. Individual account holders are provided with FREE personal accident insurance up to 2 million pesos. The Record Book captures the Check number of the issued checks right after negotiation. The account earns interest. For corporate accounts, POWERPLUS is your complete business tool that comes with a check book and a record book that captures the check number of the issued checks right after negotiation. It is an interest-earning account.WEALTHBANK also offers a wide array of deposit products that’s perfectly tailored for its Customers. myCash ATM Payroll account that is bundled with automatic salary loans that is payable through salary deductions.To satisfy the borrowing needs of its customers, the bank also offers various Consumer and Commercial loans. Special loan products are also designed for the Vicsal Group to support the business growth and expansion of its suppliers and business partners.Wealthbank is backed by a solid track record of the VICSAL Development Corporation. The lead company is Metro Retail Stores Group, Inc. with more than 46 stores in Visayas and Luzon. Other companies in the group are Taft Property Venture Development, VICSAL Investment, VICSAL Securities & Stock Brokerage, Filipino Fund, Prime Asia & Jewelry Shop, and Orient Asia Lending Investors.What WEALTHBANK has become and what it aspires to be is driven by its vision to be a world-class financial institution with global reach.
«13

Comments

  • OoT:

    Inaantay kong mag-start ka ng thread for Al-Amanah Islamic Investment Bank of the Philippines depositors... :D
  • edgenikeedgenike PEx Veteran ⭐⭐
    piquanteye wrote: »
    wealth bankers?

    nah. this bank is not very good at all.... thrift bank sya. as what my friend who was a former bank employee, talo pa sila sa ibang rural banks in terms of technology & security.
  • ArkimanArkiman Artist PEx Expert 🎖️
    CRAZY4MC wrote: »
    OoT:

    Inaantay kong mag-start ka ng thread for Al-Amanah Islamic Investment Bank of the Philippines depositors... :D
    Hahahaha igawan na lahat ng thread iba't ibang bangko basta akin mga rural banks:lol:
  • Arkiman wrote: »
    Hahahaha igawan na lahat ng thread iba't ibang bangko basta akin mga rural banks:lol:


    OoT:

    May "non-banks" pa! :lol:
  • Strong7PowerStrong7Power Member PEx Moderator
    Arkiman wrote: »
    Hahahaha igawan na lahat ng thread iba't ibang bangko basta akin mga rural banks:lol:

    Hahahahahahaha. Iba rin ang trip nito ni piquanteye!

    There are more than 40 universal and commercial banks, more than 75 thrift banks, :(and hundreds of rural and cooperative banks in the country. Hindi pa kasali rito ang non-banks and institutions that supervised by BSP.

    Hindi na ko magugulat, kung ang lahat ng ito, ay may mga sari-sariling forum thread na gawa-gawa ni piquanteye.
  • piquanteyepiquanteye Member PEx Expert 🎖️
    Yes for monitoring purposes. All banks are closely monitored by higher auth. right now. Thanks.
  • piquanteyepiquanteye Member PEx Expert 🎖️
    edited June 2018
    wow until 8PM na sa Market Maket Taguig

     Lucena Pacific Mall Branch up to 7p
    7 DAYS BANKING Mandaue Pacific Mall Metro Branch up to 8pm | Taguig Market! Market! Branch up to 8pm |

    baket kaya walang Wealth bank sa Fairview Terraces?
  • piquanteyepiquanteye Member PEx Expert 🎖️
    edited June 2018
    Parang hinde na update ng Metro Gaisano website ng Wealthbank


  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    Marami silang branches sa province namin (Mindanao) and Visayas.

    They are expanding definitely, but the deposit rates are not that competitive compared to other rural or savings banks.
  • piquanteyepiquanteye Member PEx Expert 🎖️
    Sana may branch na sila sa Makati at QC.
    Kung okay naman ang serbisyo ng VICSAL Gaisano.

    Kung may tieup din ang WealthBank Cards sa Metro Gaisano.

    MetroWealth Credit cards kaya?
  • piquanteyepiquanteye Member PEx Expert 🎖️
    Hello hello hello
  • piquanteyepiquanteye Member PEx Expert 🎖️
    edited March 2019




    The Metro Gaisano Group

    WealthBank traces its origin in the year 1967 when Danao City Development Bank was granted a thrift bank license and an authority to operate by then Central Bank of the Philippines. This single-branch thrift bank, principally located in Danao City, had equity participation by the Development Bank of the Philippines and the Land Bank of the Philippines.


    In 2001 , VICSAL Development Corporation, acquired Danao City Development Bank, signaling the start of what is now known as Wealth Development Bank. Branch expansion soon started in 2002 starting in the Visayas and Mindanao region. Currently, Wealthbank has 24 strategic branches located throughout the country with new branches poised to open in current and succeeding years.


    In 201 6, it became a subsidiary of Woori Bank, the oldest and the second largest bank of South Korea, after it acquired 51% stake in Wealthbank. This merger gave a unique position to Wealthbank as a local thrift bank with global reach.


    Woori Bank

    Wealth Bank, is the first and only thrift bank in the Philippines to become a subsidiary of a multinational bank, Woori Bank. Recognizing its strong potential for expansion and growth, Woori Bank partnered with Vicsal Development Corporation for WealthBank in 2016.


    Woori, established in 1899 as Daehan Cheonil Bank and later renamed to Woori Bank, is South Korea's oldest and second largest bank in terms of total assets, ranking 91st worldwide. For the past 100 years, Woori has served as the treasury bank for the Seoul Metropolitan Government and managed funds raised for the National Debt Redemption Movement.


    By the 3rd quarter of 201 5, Woori Bank had a total of $173 billion in deposits, $209 billion in loans, and $251 billion in total assets. Woori Bank was acclaimed Bank of the Year in Korea by The Banker in 2004,2007,2008,2010, and 2011 and The Asian Banker in 2011 , 2012 and 2013.


    It also served as the driving force behind Seoul’s economic growth by serving as lender for promising exporters.


    Woori is also known for its technological innovation and use of computer and mobile telephony. In 2015 Woori Bank launched WiBee Bank, considered to be Korea's first mobile-only bank. It also entered into partnership with Samsung to provide Samsung Pay payments and ATM cash withdrawal transactions. Woori Bank brings to WealthBank its international experience in serving a vast array of 22 million retail clients and over a million commercial firms, conglomerates, and public institutions with its 956 branches in South Korea as well as its 225 branches in 20 other countries.


    This synergy between Woori Bank and VDC for WealthBank will expand its market reach to serve Korean SMEs and the Overseas Filipino Workers, as well as Korean businesses operating in the country and Korean citizens visiting and working in the Philippines. Customers can look forward to additional branches, ATM outlets, and more products and services including Foreign Currency Deposit Unit (FCDU), Government Securities Trading, Credit Card, Quasi Banking, and Remittance.


    This major milestone is key in the fulfilment of WealthBank's vision beyond global reach to global presence.



  • piquanteyepiquanteye Member PEx Expert 🎖️

    WEALTHBANK UNVEILS NEW LOGO, CHAPTER

    July 30, 2018



    OFFICIALS pose in front of Wealthbank’s new logo at the Taft Ayala Building on Cardinal Rosales Ave., Cebu City.


    It’s a new chapter filled with promise as Wealthbank unveiled its new logo, a public testament of its partnership with Woori Bank.


    In 2016, Wealthbank became a subsidiary of Woori Bank, the oldest and second largest bank in South Korea, after the latter acquired a 51 percent stake in Wealthbank. This makes Wealthbank a local thrift bank with global reach.


    Last July 23, representatives of the two banks gathered for a ceremonial unveiling of the new logo at the Wealthbank office at the Taft Ayala Building on Cardinal Rosales Ave., Cebu City.


    For the past two years, the company has been slowly merging with its foreign partner. The new logo, which is closely patterned after Woori’s own, concretizes the relationship between the two banks.


    “The new logo signifies Woori Bank’s presence in the Philippine market,” said Wealthbank chairperson Edward Gaisano. In 2019, Wealthbank plans to implement a new and advanced financing system adapted from South Korea.


    Currently, Wealthbank has 23 branches all over the country. With this partnership with Woori Bank, the company will definitely continue to grow in the coming years.



  • piquanteyepiquanteye Member PEx Expert 🎖️
    $MRSGI can now tap Woori bank for South korean companies to expand business here in the Philippines. Let us say Samsung, SK Telecom and LG? and the oppas? my gash.

    Wealth Bank please open at more Ayala Malls pa. Market Market Taguig has 10 hours x 7days operations. Sana magexpand pa sa ibang City dito sa Manila. Then Woori Credit cards and Metro Retail tieup please.
  • piquanteyepiquanteye Member PEx Expert 🎖️
    edited March 2019
    Hello Woori. Free Korean Visa when you open a Wealth Bank CASA?

    Yeoboseyo! Cherry blossom.


  • piquanteyepiquanteye Member PEx Expert 🎖️

    We have opened more branches on weekends to give you more time to do banking.Now, you can prioritize more important thing to do on your busy weekdays.


    Banking Hours: 10:00 AM - 8:00 PM
    Mondays to Sundays
    Banking Hours: 10:00 AM - 8:00 PM
    Mondays to Sundays

    Banking Hours: 10:00 AM - 7:00 PM
    Mondays to Sundays
    Banking Hours: 10:00 AM - 7:00 PM
    Mondays to Sundays

    Banking Hours: 10:00 AM - 7:00 PM
    Mondays to Sundays

  • piquanteyepiquanteye Member PEx Expert 🎖️
    Fairview Terraces ayaw nyo magopen?
  • piquanteyepiquanteye Member PEx Expert 🎖️

    VICSAL ANNOUNCES PARTNERSHIP WITH WOORI BANK

    June 1, 2018



    Gaisano-owned Vicsal Development Corporation (VDC) officially announces BSP's approval of the investment of Woori Bank, South Korea's oldest and second largest bank in total assets, into Wealth Bank. This seals the proposed partnership between the two companies.


    The two partners bring highly complementary capabilities and a deep commitment to serving the retail, consumer, and small-medium enterprise banking needs of Filipinos and Filipino companies.


    Wealth Bank is the financial arm of VDC and is one of the Philippines fastest growing thrift banks with close to P7B in assets. Wealth Bank brings its solid core leadership, consumer and SME banking relationships and expertise in the Philippine's business and banking landscape.


    WealthBank is also part of a broader eco-system of businesses that will be a priority for the joint venture partners, including the fast growing Metro Retail, the expanding business of Taft Properties, the property development initiatives of HT Land (also a joint venture of the group between Taft and Hong Kong Land), and Pacific Malls.


    For its part, Woori brings international experience in serving a vast array of retail clients and commercial firms in the highly competitive market of South Korea, as well as its 225 branches in other countries.


    Woori is also well known for its technological innovation and use of computer and mobile telephony to serve clients of all income levels.


    The partners will prioritize a number of growth areas. In addition to the VDC eco-system, the JV partners will collaborate to serve Korean SMEs and Overseas Filipino Workers, as well as Korean businesses operating in the country, and Korean citizens visiting and working in the Philippines. The partners will look to both traditional and new channels to serve their clients.


    "We see this partnership taking us to the next level in banking, and elevating our game in a number of important niche areas. We know where the untapped markets are, and with our local market insight and Woori's expertise and technology, we can serve those segments quite effectively", said WealthBank and VDC Chairman Edward Gaisano.


    Woori Bank's Chief Representative for Wealth Bank, Noh Taec Park, added, "We look forward to the joint management of Wealth Bank with our dear partner VDC. We are confident that with the strong cooperative ties between VDC and Woori Bank, we will achieve mutual benefits for both parties and, at the same time, contribute to the development of the Philippines banking industry."


  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    Fairview Terraces ayaw nyo magopen?
    Iyong branch nila sa Alabang Town Center, kahit nasa mall eh hindi open during weekends. Sad.

    Kakaopen lang nila ng branch sa province namin though. For a thrift bank, mas mataas pa ang deposit rates ng Eastwest sa kanila.
  • piquanteyepiquanteye Member PEx Expert 🎖️
    edited March 2019
    ^ Metro Gaisano is experienced with financial services pla. Filipino Fund and AB Securties nasa kanila. Siguro kaya hinde masyado mataas deposit rates nila? More on Investments sila kaysa thrift banking? Though Php 200 to open an account is really the cheapest sa mga local thrift banks.

    Ano bang balak ng Metro Gaisano sa Wealth bank gawin mala BDO?

    Woori is the 2nd largest bank in Korea. So I guess this is a sign that the oppas are cuming??

    Pero sana mas dumami pa branch nila sa Ayala Malls na may weekend banking, mas gumanda ang Woori Wealth bank single sign on banking at may pa korean visa hahahaha... Sabi nila pioneer daw ang woori sa Internet banking sa Korea.


    Ang EWBank Unibank is also experienced with Thrift Banking pero mas minintain nila yung savings idea ng Family Bank nila dati. Ngayon ay BPI Family na.
Sign In or Register to comment.