Wealthbank attracting middle-class depositors

             WEALTHBANK, together with other members of the Gaisano group of companies, Taft Property Venture Development Corp. and Grand Holidays Travel & Tour Inc., will inaugurate its new banking center at the Cebu Business Park today.

             According to Wealthbank president Sabiniano Villamor, the Ayala branch of the Gaisano-led bank has been attracting many depositors from the middle-class sector such as salesladies, security guards and even jeepney drivers since it soft-opened in June.

            He said Wealthbank's P200 requirement to open an account has encouraged depositors who have been turned down by other banks with higher deposit requirements, to come to the bank. 

            "We saw that this market has a large potential. Many people want to save but can't afford to even just start an account. Our P200 deposit requirement will also help the bank expand our deposit base fast. The market may be very retail, but it is constant," Villamor said.

            The 1,800-square-meter building where Wealthbank is located was constructed by the Gaisano group's property development arm, Vicsal Development Corp.

            The building's other tenants are Hongkong and Shanghai Banking Corp., Taft Property and Grand Holidays. JBN