Ilagan and Tuguegarao Extension Offices
Are Now Full-Fledged Branches

After their conversion was authorized by the Bangko Sentral ng Pilipinas (BSP), the extension offices of the Bank in Ilagan, Isabela and Tuguegarao City, Cagayan are now full-fledged branches. It made a record in FICOBank’s history as the first two out of the nine extension offices that eventually turned into regular branches.

It was on August 20, 2008 when FICOBank Ilagan was inaugurated as a field office (FO), under the domain of Roxas Branch. Subsequently, it became an extension office (EO) when BSP granted its authority to operate as an EO on March 2, 2010. On the other hand, the Tuguegarao Extension Office, which is then attached to Solana Branch, held its grand opening on December 3, 2010. This significant development in the banking landscape of Ilagan and Tuguegarao EOs is in line with the branch network re-engineering thrust of the Bank.

FICOBank Ilagan and FICOBank Tuguegarao are now the Bank’s 18th and 19th branches, respectively. The latter is a stand-alone branch, with no EO, while the former has now the jurisdiction over Tumauini and Cabagan EOs. These extension offices were previously attached to FICOBank Head Office (Cauayan City). It becomes the servicing branch of these EOs because of the proximity of their locations to the said branch. BSP approved the attachment of these EOs to the Ilagan Branch as well.

Ilagan is the capital town of Isabela while Tuguegarao is the city capital of Cagayan and the regional capital of the Cagayan Valley Region. They are both thickly populated, and are among the few primary growth centers of Region 2. These two host commercial centers of the said branches provide the Bank a greater opportunity to expand further its banking operations.

For Ilagan and Tuguegarao Branches, moving to a higher notch will enable them to have greater competitiveness, better performance and bigger income, as they offer full banking services with the right product repertoire to the right customer segments. They are now well-positioned to support continuously the banking needs of the local populace. Most importantly, these new branches of the Bank intend to build and maintain partnerships with the customers in a way and at a level that will benefit their respective business-and-personal banking goals and/or interests.