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LBC Reveals Purposes of P1.6-Billion Loan To Union Bank

LBC Loans P1.6-Billion from Union Bank

LBC – The popular courier company in the Philippines revealed the purposes of its P1.6 billion loan deal with Union Bank.

Among the progressive businesses in the Philippines are courier companies. Truths be told that the current situation gave it a boost as more and more people are into online shopping now.

Before, there are only a few names known when it comes to courier companies and LBC is the most popular – it has even the tag line “Hari ng Padala”. Now, several companies are widely operating across the globe including J&T Express and Ninja Van.

LBC remains to be one of the trusted and the most popular courier companies the Philippines. It continues to upgrade its services to the public.

LBC
Photo: PortCalls Asia

Based on an report on ABS-CBN News, LBC signed a P1.6 billion deal with Union Bank for several purposes including the construction of a new warehouse. According to the courier company, a part of the money it borrowed from the bank will also be used in the importation and the installation of a sorting machine and land acquisition through a loan takeout.

Previously, the said popular courier company is known as the Luzon Brokerage Company. It is also eyeing to offer cargo airline services starting May 2014. It is most known for its post delivery and express email services.

The said courier company has over 1,200 branches in the Philippines. Many Filipinos abroad also turn to this company as it has branches in the United States, Canada, Hong Kong, Australia, Brunei, Singapore, Malaysia, Germany, Spain, United Arab Emirates, Kuwait, Taiwan, and South Korea. It also got subsidiaries such as the LBC Remit Express.

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