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C o m p a n y P r o f i l e
Queen City Development Bank is a banking corporation duly organized and existing under the laws of the Republic of the Philippines with principal office and place of business at Sky City Tower, Mapa Street, Iloilo City, Philippines.
Authority to operate as a private development bank subject to the applicable provisions of laws and Central Bank rules and regulations was granted to Queen City Development Bank on July 07, 1981 pursuant to Republic Act No. 337 as amended and to the Monetary Board Resolution No. 326 dated February 22, 1980. Articles of Incorporation and By-Laws were filed and registered with the Securities and Exchange Commission on June 25, 1981 and July 6, 1981 respectively. It started its banking operations on July 18, 1981, with an authorized capital stock of P10 million divided into 80,000 common shares and 20,000 preferred shares with par value of P100.00.
Queen City Development Bank started with P4 million paid-up capital and a skeleton force of 11 personnel composed of 3 officers and 8 staff members. It offered only limited services such as savings & time deposits and loans.
A year later, Queenbank became an authorized foreign exchange dealer. In April 1984, it entered into an agreement with a commercial bank to service the checking account requirement of its clients. This additional service proved very effective and thus, increased the volume of deposits of the bank.
The bank has continued to embark in a series of capital build-up program to cope with its growing loans and deposit portfolios. On December 30, 2002, the Securities and Exchange Commission and the Bangko Sentral Ng Pilipinas approved the banks authorized capital stock to P1.2 Billion. The latest round of capital build-up program was approved by the Board on March 28, 2003, increasing its paid-in capital to P650 Million by December 2007.
As of December 31, 2005, the bank stands with total resources of P1.027 Billion; loans of P645.4 Million; deposits of P398.0 Million; and P562.7 Million in Stockholders Equity.
With its ten (10) branches, the bank�s working force is now composed of 87 personnel, 37 are officers and 56 are members of the staff.
Rogelio M. Florete
Chairman
Manuel E. Villa, Jr.
Director
Margaret Ruth C. Florete
Director
Jose Marie P. Trenas
Director
Joseph Vincent T. Go
Director
Manuel J. Miraflores
Director
Enrico O. Jacomille
Director
Gregorio M. Rubias
Director
Dante A. Javellana
Director
Rodolfo Pollentes, Jr.
Corporate Secretary
Rogelio M. Florete
President
Margaret Ruth C. Florete
Executive Vice President
Enrico O. Jacomille
First Vice President - Commercial Banking Group
Dante A. Javellana
First Vice President - Branch Banking Group
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