LifeBank Foundation Passes 200,000-Client Milestone

October 1, 2008 Posted by Unitus Labs, Update

Unitus is pleased to announce that LifeBank Foundation has surpassed the 200,000-client milestone. Based in the Philippines, LifeBank has been a Unitus partner since 2006. Last year, the organization grew its client base by an impressive 105 percent, and anticipates 80 percent growth by the end of 2008.

LifeBank began as a rural bank in 1970 and ventured into microfinance in 1995. In 2001, they started microfinance operations and spun off LifeBank Foundation in 2003, with just 5,000 clients, to allow more rapid growth. The clients they serve are women, many of whom run their own sari-sari stores, which sell anything from small food items to school supplies and crafts. The organization is managed by founding brothers Manny Perlas, President, and Vincent Perlas, Senior Vice President. Manny brings more than 20 years of international development experience and Vincent is a medical doctor who made a career shift to focus on banking.

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