Rizal Microbank pioneers 'container bank'
26 Oct 2013 Written by Genivi Factao
THE skill, artistry and ingenuity of Filipinos have proven that an empty
container can be converted into a house, an office, commercial stalls
and—why not—a bank.
Yes, Rizal Microbank, the microfinance unit of Rizal Commercial Banking
Corp., has introduced its first container microfinance banking office
(MBO) in Lipa City, Batangas.
Cut a door and windows into a container box, put double walling and
ceiling, and with the use of insulation, as well as proper ventilation,
the empty container that used to clutter ports has found its new purpose.
The two strong and slender 40-footer containers were converted into an
MBO to service to the microentrepreneur clients of Rizal Microbank in
Lipa City. "It's a permanent, solid and stable structure," Rizal
Microbank President Ma. Lourdes Jocelyn Pineda said.
"Rizal Microbank is making a lot of firsts. We asked the Bangko Sentral
if it allows a microbank office without a vault. And they allowed us. We
have cashless operations here, because other transactions can be done in
our head office," Pineda said.
"But, we also have an ATM [automated teller machine] for clients who
need to deposit or withdraw," she added.
She said the company invested between P2.3 million and P2.4 million for
the MBO Lipa, including furniture. If it's bare the cost will be less
than a million pesos.
"We saved one-fourth of the cost of a regular branch. It's faster to
construct and can be finished in a month, and the advantage is a lot of
savings from rental fees. With the container, all we need is a vacant
lot," she said, adding that the microbank rented the vacant space for
only P15,000 a month.
The bank is manned by three people to service customers who open
accounts and apply for loans, and do the basic "know your customers" norms.
When asked about plans of transporting the container bank to another
place, Pineda said, "It was my concern before, if we'll wake up one
morning and the bank is gone," she smiled.
"Actually, we have a contractor who said the container was vaulted on
the ground. It was welded to provide stability and it's permanent," she
explained.
"Should we decide to move, we can move it, but it will take time. The
contractor said it's not an easy task," she explained, adding that they
have to seek approval from regulators.
The thrift bank has 15 branches: 10 in Luzon, four in Mindanao and its
latest addition is the container-type Lipa branch.
There are seven more MBOs in the pipeline targeted to open in the first
quarter of next year. The four new MBOs will be in Mindanao,
particularly in Butuan City, Agusan del Norte; General Santos City,
South Cotabato; Bukidnon and Cagayan de Oro City, while three MBOs will
be put up in Luzon, particularly in Cabuyao, Santa Cruz and San Pablo,
all in Laguna.
"The MBOs will not necessary be another container type, because it's
hard to find vacant lots. The MBO will have investments of about P2
million and we're looking for at least 120 to 150-square-meter lots,"
she said.
The beautifully crafted business stalls and restaurants made of
containers already exist everywhere in the country. A posh bar and
restaurant on Roxas Boulevard used three rows of stacked 40-footer
containers. On Ortigas Avenue, Pasig City, there can be found container
vans converted into classy apartment units. Even the Metropolitan Manila
Development Authority uses containers as traffic offices.
