Sterling Bank of Asia, a savings bank established in March 2007 by successful businessmen and entrepreneurs, and Philippine Rural Banking Corp. (PR Bank), an Isabela-based bank has opened their respective branches in Cagayan de Oro City.

Sterling Bank of Asia inaugurated their branch yesterday located at the ground floor of VIP Hotel at the corner of Don Apolinar Velez and JR Borja Streets while PR Bank opened their branch located at the ground floor of Royale Business Club Building at the corner of T. Chavez and Velez Street.

Sterling Bank of Asia is principally owned by the JTKC Group of Companies, Surewell Equities, and Star Equities. JTKC Group of Companies and Star Equities are involved in a wide range of industries, ranging from logistics to finance, real estate, manufacturing, hotel and resort properties. Some of these companies include I-Remit Inc., TKC Steel Corp., Discovery Leisure Company (Discovery Suites, Discovery Country Suites-Tagaytay and Discovery Shores-Boracay), The Mansion Group (Amorsolo Mansion, Gilarmi Apartments, Mabini Mansion, Boulevard Mansion), JTKC Land, Discovery Primea, and Kent Vinyl Tiles. Surewell Equities, on the other hand, is a holding company engaged in various interests, among which are, Confed Properties, Inc., I-Remit Inc., Flexi-Woods, Inc., Banwood Construction Center and Six Alps Corp.

On the other hand, PR Bank began in the 1977 in the small town of Naguilian, Isabela. Small and struggling, yet committed, determined, aggressive and hardworking, the rural bank has grown to be the biggest rural bank in Region 2 and one of the largest in the Philippines. The rural bank transformed from a single branch to a 22-branch operation (and still counting), and reaping honors and commendations that are of national prestige and prominence, and metamorphosing from a very traditional banking to electronic banking.

The two banks are just the latest of many new financial institutions which have opened in Cagayan de Oro City, just a proof of their trust and confidence in doing their business in this part of country.

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