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Corporate Profile

WEALTHBANK’s beginnings go back to the year 2002 when VICSAL Development

Corporation or what is now the Metro Retail Stores Group Inc. acquired Danao City
Development Bank, a financial institution that has been in operation for 35 years.
The bank was renamed Wealth Development Bank or WEALTHBANK, with equity
participation by the Development Bank of the Philippines and the Land Bank of the
From just one branch in 2002, Wealthbank has expanded to sixteen (16) branches
nationwide, seven in Metro Cebu, four in Visayas and Mindanao, and five in Luzon in a
span of ten years. With total resources reaching PHP 6.4 Billion; deposit liabilities at PHP
5.8 Billion; loan portfolio at PHP 3.2 Billion; and capital at PHP 492 Million.
The Bank leaped in total assets ranking from 28th in 2010 to 19th in 2015 and 9th in
Solo Thrift Banks category. With these, the bank’s growth in the last twelve years is
considered phenomenal.
In 2010 WealthBank joined the BANCNET ATM Consortium and put up sixteen ATMs
located in shopping malls for convenient access to its cardholders.
WealthBank is being run by a core management team of professional bankers and over
300 competent and dynamic employees. Led by its Chairman Dr. Edward Gaisano, its
President Gregorio B. Anonas III and the Board of Directors, the Bank is strongly
committed in building a Customer-centric culture that delivers a delightful and
memorable banking experience at all customer touch points. WealthBank puts the
Customer at the heart of the organization.
To answer to the ever-growing needs of its Customers, WealthBank continuously
innovates products and services. Its banner deposit products --- POWERMAX for
individuals and POWERPLUS for corporations. POWERMAX’s ei8ht finite ways has three
main features -- a checking account with check book, record book and ATM card, and
five access points -- the Branch, ATM, Internet, Mobile and POS. Individual account
holders are provided with FREE personal accident insurance up to 2 million pesos. The
Record Book captures the Check number of the issued checks right after negotiation.
The account earns interest. For corporate accounts, POWERPLUS is your complete
business tool that comes with a check book and a record book that captures the check
number of the issued checks right after negotiation. It is an interest-earning account.
WEALTHBANK also offers a wide array of deposit products that’s perfectly tailored for its
Customers. myCash ATM Payroll account that is bundled with automatic salary loans
that is payable through salary deductions.
To satisfy the borrowing needs of its customers, the bank also offers various Consumer
and Commercial loans. Special loan products are also designed for the Vicsal Group to
support the business growth and expansion of its suppliers and business partners.
Wealthbank is backed by a solid track record of the VICSAL Development Corporation.
The lead company is Metro Retail Stores Group, Inc. with more than 46 stores in Visayas
and Luzon. Other companies in the group are Taft Property Venture Development,
VICSAL Investment, VICSAL Securities & Stock Brokerage, Filipino Fund, Prime Asia &
Jewelry Shop, and Orient Asia Lending Investors.
What WEALTHBANK has become and what it aspires to be is driven by its vision to be a
world-class financial institution with global reach.

Our Vision and Mission

A world-class financial institution with global reach

We are the preferred bank of middle income individuals and small & medium enterprises
that delivers distinct products and timely services through technology and provides a
pleasant and memorable banking experience.

We are a team of motivated, competent, and empowered professionals.

We value prudence in the way we do business and practice good corporate governance.

We provide the best return for our stockholders and exercise social responsibility in the
communities we serve.

Our Core Values

Honesty in all undertakings

Perfection in service delivery by doing it right the first time and in a consistent,
competent and timely manner

Safe and sensible action according to rules and regulations

Extra step to delight the customer

Professional work ethics as a team member

The Board of Directors

Chairman of the Board:
Dr. Edward S. Gaisano
Members of the Board:
Gregorio B. Anonas III, President & Chief Executive Officer
Aljim C. Jamandre, Vice - Chairman
Mary Jennifer V. Musni, Treasurer
Ma. Teresa B. Chan (Member - Independent)
Atty. Vincent E. Tomaneng (Member - Independent)
Emmanuel P. Tesalona (Member - Independent)

Corporate Secretary:
Atty. Roberto D. Quizeo
Senior Officers:
President & Chief Executive Officer: Gregorio B. Anonas III
Exec. Vice President & Chief Operations
Danilo A. Quinto
Vice President/Head, Credit Department: Hermelo Y. Parot
Asst. Vice President & Chief Compliance
Renato A. Barcenas
Corp. Sec./Head, Legal Department: Atty. Roberto D. Quizeo
Head, Risk Management Department: Alan B. Faelnar
Head, Treasury Department: Jane K. Gocuan
Head, Branch Banking Group: Charito Y. Jimenez
Head, Accounting & Controllership: Mae B. Pangilinan
Head, Process Quality Management
Glenn A. Varron
& Collection Department:
Head, Human Resource Department: Roselyn M. Aberion
Head, Internal Audit Department: Mario Geoffrey C. Gador
Head, Consumer Lending Department: James Frances V. Paraon
Head, Marketing Department: Grace E. Tortor
Head, Research & Innovation Department: Jlyn Grace S. Paraguya
Head, Electronic Channels: Annie Cel C. Cañete
Head, DEPED Business Segment: Roberto F. Salazar
Head, VICSAL Ecosystem Business
Gaspar Antonio G. De Los Santos
Head, Commercial: Panfilo K. Futalan Jr.
Head, Central Operations Support
Lorna V. Acenas
Charito Y. Jimenez
Concurrent Bank Security Officer:

Vicsal Announces Partnership with Woori Bank

Gaisano-owned Vicsal Development Corporation (VDC) officially announces BSP's
approval of the investment of Woori Bank, South Korea's oldest and second largest bank
in total assets, into Wealth Bank. This seals the proposed partnership between the two
The two partners bring highly complementary capabilities and a deep commitment to
serving the retail, consumer, and small-medium enterprise banking needs of Filipinos
and Filipino companies.
Wealth Bank is the financial arm of VDC and is one of the Philippines fastest growing
thrift banks with close to P7B in assets. Wealth Bank brings its solid core leadership,
consumer and SME banking relationships and expertise in the Philippine's business and
banking landscape.
WealthBank is also part of a broader eco-system of businesses that will be a priority for
the joint venture partners, including the fast growing Metro Retail, the expanding
business of Taft Properties, the property development initiatives of HT Land (also a joint
venture of the group between Taft and Hong Kong Land), and Pacific Malls.
For its part, Woori brings international experience in serving a vast array of retail clients
and commercial firms in the highly competitive market of South Korea, as well as its 225
branches in other countries.
Woori is also well known for its technological innovation and use of computer and
mobile telephony to serve clients of all income levels.
The partners will prioritize a number of growth areas. In addition to the VDC eco-
system, the JV partners will collaborate to serve Korean SMEs and Overseas Filipino
Workers, as well as Korean businesses operating in the country, and Korean citizens
visiting and working in the Philippines. The partners will look to both traditional and new
channels to serve their clients.
"We see this partnership taking us to the next level in banking, and elevating our game
in a number of important niche areas. We know where the untapped markets are, and
with our local market insight and Woori's expertise and technology, we can serve those
segments quite effectively", said WealthBank and VDC Chairman Edward Gaisano.
Woori Bank's Chief Representative for Wealth Bank, Noh Taec Park, added, "We look
forward to the joint management of Wealth Bank with our dear partner VDC. We are
confident that with the strong cooperative ties between VDC and Woori Bank, we will
achieve mutual benefits for both parties and, at the same time, contribute to the
development of the Philippines banking industry."

Banking - Wealthbank
Established in 1966, WealthBank is now majority owned by the Vicsal Development
Corporation with equity participation of the Development Bank of the Philippines
(DBP) and Land Bank of the Philippines (LBP). WealthBank now has a network of 11
branches in major cities of the southern and central parts of the country. The Bank’s
strong commitment to prompt and speedy response to financial needs specifically
appealed to the small and medium enterprises sector, the bank’s core clientele.
The bank adheres to Good Corporate Governance and the guiding principles of
competence and conservatism, merged with the values of prudence and dedication. To
this end, it has assembled a team of excellent veteran bankers and has invested in
Modern Information Technology/Computer Systems to achieve seamless servicing to its
WealthBank aims to become one of the most respected financial institutions in the
country, and to be ranked (in terms of total resources, networth and profitability)
among the top 20 development banks with resource of P3.0 Billion and with a network
of 15 branches by the end of 2010.