Right Choice Capital Pte Ltd (Singapore) continues its expansion in the Philippines and Singapore with the addition of a licensed bank to its group of businesses.
The company said that the BSP has granted it formal approval to proceed with its acquisition of the Rural Bank of San Luis (RBSL). RBSL has been operating in Pampanga for 50 years and serves its MSME and consumer customer base. The bank is licensed for savings, time deposits, and lending.
Right Choice Capital CEO and Founder, Kodi Kodrowski said that the acquisition is part of its bid to become a fully diversified financial services group with services aimed at the still underserved SME, MSME, and Consumer market sectors in the region.
“We are expanding RBSL bank with a fully digital product range, while retaining its personalized, ‘relationship driven’ core business for MSME and individual customers”, Kodrowski added.