The Florete-led Queen City Development Bank opened its second branch in Bacolod City in Mandalagan last Friday as part of its five-year strategic plan of expanding its branch network, a press release from the bank said.

The Queenbank Mandalagan branch, located at the ground floor of Bombo Radyo, CBS Development Corp. Building, Lacson Street, is headed by Ismael Saballa as branch officer-in-charge while its San Juan branch, by manager Jovi Linga.

Both branches offer deposit products, loans, ATM and other corporate services.

Queenbank is also set to open early next year its second branch in Pangasinan located at the Sana Building , MacArthur Highway in Urdaneta City . On the drawing board is a Metro Manila branch, the press release said.

CASH DIVIDENDS

Meanwhile last Nov. 16, Queenbank released P14.3 million in cash dividends to all its shareholders June 30, 2007 upon the approval of the Bangko Sentral ng Pilipinas, the press release said.

It also continued to post strong growth figures during the first 10 months of the year due to the strong public acceptance of the bank's deposit and loan products and the robust demand from the small and medium entrepreneurs.

Compared to last year's levels, deposits grew by 15.02 percent from P451 million to P519.8 million; total resources improved by 14.81 percent from P1.071 billion to P1,230 billion; gross revenues and net income expanded by 7.62 percent and 9.41 percent, respectively, while loans and inter-bank loan receivables totaled to P986 million, the press release added.*

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