WEALTHBANK’s beginnings go back to the year 2002. Propelled by the desire to further explore the potential from the synergy of retail business with financial services, VICSAL Development Corporation, owners of Metro Department Stores & Supermarkets of Cebu City acquired on May 8, 2002 Danao City Development Bank, which was founded in 1967. The bank was renamed WEALTH DEVELOPMENT BANK (WEALTHBANK) with equity participation by the Development Bank of the Philippines and the Land Bank of the Philippines, which were represented in Wealthbank’s Board of Directors. As a Cebu based thrift bank where its Head Office is located, Wealthbank positioned itself to service primarily the so-called VICSAL Ecosystem. The system revolved around the VICSAL Group of companies, its employees, its suppliers, the patrons of the Metro department stores & supermarkets and the shopping mall goers. Secondarily, it focused on the Small & Medium Enterprises (SMEs) and individuals.