Right Choice Capital Expands to Philippines, Acquires Local Rural Bank

Right Choice Capital Pte Ltd (Singapore) is continuing to execute its rapid business expansion strategy in the Philippines & Singapore markets with the addition of a licensed bank to its growing group of bank & financial services businesses.

The company said that has been granted formal approval by the Philippines regulator (Bangko Sentral Ng Pilipinas) to proceed with its acquisition process for the Rural Bank of San Luis (Pampanga).

Rural Bank of San Luis (RBSL) is a fully licensed Rural Bank in the Pampanga region of the Philippines with a proud 50-year successful operating history. RBSL is licensed for Savings, Time Deposits, and Lending to its MSME and Consumer customer base.

Right Choice Capital Group (RCC) has also launched its new major funding round – a $10M Series A Equity round to further support its rapid scaling, with additional banking and financial services business acquisitions expected during Q1 & Q2 of 2023.

According to Right Choice Capital CEO and Founder, Mr. Kodi Kodrowski: "The acquisition of RBSL is a key element in our group's rapid expansion and diversification strategy. We started six years ago as a regulated Finance Corporation, and have steadily added multiple, licensed business units. This is all part of building out a fully diversified financial services group with a complete range of services for the still underserved SME, MSME and Consumer market sectors in the region."

"The RBSL acquisition is part of RCC's broader "banking rollup" strategy, with another bank acquisition currently under negotiation. We are expanding RBSL bank with a fully digital product range, while retaining its personalized, "relationship driven" core business for MSME and individual customers", added Mr. Kodrowski.

(Source: Fintechnews)