LBC to increase remittance locations to 4,400

Posted at 12/07/2012 2:32 PM | Updated as of 12/07/2012 2:35 PM

MANILA, Philippines - LBC Express Inc. is hoping to add 1,000 more remittance locations worldwide by 2013, which would boost its network to 4,400.

This year alone, LBC's partnerships increased the its total locations to nearly 3,400 worldwide.

LBC has 1,000 branches and 1,600 locations agent partners in the Philippines. Overseas, it has 14 international fulfillment partners with a total of 794 locations, including 253 in the Middle East, 288 in Europe, 107 in Asia Pacific, and 146 in North America.

"Strategic partnerships leverage the strengths of all parties involved, and for LBC in particular, opens different corridors and locations for us to accept remittances from all over the world. It also opens avenues for future business opportunities such as outward remittances from the Philippines, as well as tapping other nationalities worldwide," LBC President Fernando G. Araneta said.

Last July, LBC added almost 1,600 new partner branches in Visayas and Mindanao after it tied up with Palawan Pawnshop. The reciprocal service agreement makes LBC’s Instant Peso Padala (IPP) service available at over 700 Palawan Pawnshop branches and 900 of its sub-agents, while the latter’s Express Pera Padala will likewise be serviced at LBC branches.

LBC also signed agreements with Metrobank, Land Bank of the Philippines, and RCBC. Its international partners include Money Exchange in Spain; Philrem in the UK; Al Ghurair Exchange, Al Falah Exchange, and Speed Remit in the United Arab Emirates; TML Remittance Center and Placid Express in Malaysia; Far East Express and RJ Mart in Taiwan; and Manila Trading in Adelaide, Australia.

"LBC is judicious about choosing the right partners for the right locations, especially in Europe, the Middle East, and Asia Pacific, where we are looking to strengthen our presence. Our goal is not only to reinforce LBC as the preferred remittance, cargo, and courier service provider of Filipinos; we want to make our mark as a purely Filipino company providing a much-needed service to the world," Araneta said.