Northpoint Development Bank was
originally founded as a rural bank in May 22, 1956. It used to be known by the name Urdaneta Rural Bank, Inc.
and was later called New Urdaneta Rural Bank, Inc, in 1983. The bank considered the town of Urdaneta,
Pangasinan its first home, hence the names. Through BSP and SEC approvals in 1998,
the bank upgraded its classification from a rural bank into a thrift bank and
changed its name to Northpoint Development Bank.
In June 2012, Northpoint Development Bank was acquired by the Ongtenco Family of the well-known Motortrade Nationwide Corporation as part of their growing business. The new management increased the original
capital tenfold - from Php100 Million to Php1 Billion. This bold move enabled a fresh beginning for the bank to use
the banking engine in the furtherance of its mission and vision.
Northpoint Development Bank is part of the diverse and continuously growing business of the Ongtenco Family. Aside from Motortrade Nationwide Corporation, its affiliates include Bank of Makati (A Savings Bank), Inc., Fundline Finance Corporation, Veradex Development Corporation, Honda Prestige Traders, Inc., Global Reciprocal Colleges, Transnational Properties, Inc., Motortrade Topline, Inc., and Motorjoy Depot, Inc.
With its new management, Northpoint set out on an expansion program starting with the re-launching of its Urdaneta (Pangasinan) and San Pedro (Laguna) branches. Both branches went through a total overhaul to better serve the needs of the customers. The Urdaneta branch was even relocated to ensure strategic positioning to provide better access for the customers.
In November 2012, Northpoint launched its new products including Regular Savings Account, Special Savings Account, Kiddie Savings Account, Microsavings account and Maya Loans. At the same time, the bank also introduced a new logo that embodies its stronger commitment to be dependable, committed and trustworthy. Further, it represents the mass-based principle of Northpoint as part of its mission to help Filipinos by being a game-changer in the Philippine banking industry.
Northpoint is continuously achieving growth in sales of microbusiness operations (MBOs) and bank deposits. It is known for offering products that are capable of tapping all social statutes specially that of its chosen market - small-sized business owners and consumers. Through its products and services, Northpoint can achieve its goal to be the bank of choice of its significant market.
At present, Northpoint has two existing branches and will be opening 28 loan centers in 2016. It is poised to embark on an expansion program within five years, with the aim of having a total of 12 full-service branches and 168 loan centers nationwide. It will also develop its ATM network and alternative delivery channels. With this expanded reach, Northpoint will be able to better cater to the growing and evolving needs of its significant market.
With its steadfast commitment to be a positive force in the Philippine banking industry, Northpoint will continue to invest in its people by building competencies and focusing on human resources, upgrading Core Banking System to improve delivery of products and services through automation of both deposit and loan processing, and make it more accessible to the public.
In the years ahead, Northpoint will continue to expand its reach and remain true to its commitment to help small-sized business owners and consumers in the country achieve financial growth and stability.