AsiaTrust Bank Bulacan Meycauayan - Philippines

The 1960s marked a significant milestone in Philippine business history as it signaled the beginning of a period of economic liberalization. Specific measures to eliminate foreign exchange and import controls were undertaken by the government in a move to provide the country's economy with greater access to foreign trade and technology. With this shift in the nation's economic policy, came an era of economic expansion. The Philippines soon became the envy of its neighbor-countries as it proved to be one of the most advanced, high-growth economies in the region. It was also during this time that the government saw the emerging need to sustain its economic gains by liberalizing the entry of new banks into the financial system.It is against this backdrop that a group of visionaries led by  

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the late Recio M. Garcia saw the golden opportunity to contribute to and share in the growth and progress of the nation by establishing one of the first private development banks in the country and the first banking institution based in Quezon City. Thus, with an initial paid-up capital of P1 million, Quezon City Development Bank was founded. It was organized under the Private Development Banks Act through the support and assistance of the Development Bank of the Philippines by way of counterpart equity investments and loan rediscounting facilities. In the month of October 1960, Quezon City Development Bank opened its doors to the banking public.