For two consecutive years, Asialink Finance Corporation has taken home the win in the SME Financial Inclusion Initiative of the Year – Philippines category at the prestigious Asian Banking & Finance (ABF) Retail Banking Awards. The award ceremony took place last July 4, 2024, at Sands Expo & Convention Centre, Singapore. This accolade recognizes Asialink’s intensified efforts to support micro, small, and medium enterprises (MSMEs) amid challenges in the Philippine economy.
The ABF Retail Banking Awards recognized the best institutions in the banking and finance industry. The event acknowledged exceptional entities that contributed to the development of the retail banking sector, highlighting the solutions, products, and outstanding innovations of retail banks that elevated the standard in the industry.
“Winning the SME Financial Inclusion Initiative of the Year for the second straight time underscores our strong dedication to make quality financing more accessible. This award shows the trust and confidence that our clients and partners have in the financial solutions that we provide,” said Ruben Y. Lugtu II, Chairman of Asialink Finance Corporation.
Through strategic collaborations with various banks and creditors, Asialink has bolstered its financial capabilities to better serve the MSMEs. It launched a PHP 2 billion corporate notes facility agreement with multiple banks, significantly expanding its capacity to provide comprehensive financial solutions to the sector. Additionally, a new credit line was established, allocating a substantial PHP 1 billion to facilitate funding for MSMEs.
Asialink also prioritized its branch expansion efforts, adding 24 new branches in the past year alone. It expanded its presence in the digital landscape by launching targeted online marketing campaigns for business owners. Moreover, Asialink ramped up its loan consultancy program, optimizing both digital and offline channels to engage and assist more Filipinos.
This proactive approach resulted in a significant 22% increase in the number of loan consultants and a remarkable 145% increase in leads generated in the digital landscape. These accomplishments underscore Asialink’s unwavering dedication to fostering financial inclusion and providing critical support to the backbone of the Philippine economy, the MSMEs.
“Our commitment to financial inclusion and support for MSMEs has never been stronger. These initiatives reflect our dedication to empowering businesses and driving economic growth,” Lugtu added. “MSMEs are a huge part of the businesses across the Philippines and through our financial solutions, we will continue to be their partner in reaching their business dreams.”
