The Palawan Group of Companies celebrates four decades of service to Filipino communities across the archipelago. What began as a single pawnshop in Puerto Princesa, Palawan in 1985 has evolved into one of the Philippines’ most recognized financial service providers, operating over 70,000 branches, outlets, and money shops nationwide.
How Did Palawan Group Begin?
The journey started with Bobby L. Castro and Angelita M. Castro, who founded Palawan Pawnshop with a straightforward mission: providing affordable and reliable financial services to Palawenos. The couple’s approach was simple, treating every customer as family and building their reputation through word-of-mouth recommendations.
“We didn’t start this journey with big capital or grand ambitions; we simply wanted to help,” reflected Bobby L. Castro during the 40th anniversary press conference. This customer-first philosophy became the cornerstone of the business, guiding its growth from a local pawnshop to a nationwide financial services network.
What Services Does the Group Offer Today?
Today’s Palawan Group operates multiple brands serving different market segments. Palawan Pawnshop maintains its position as a leading pawning service provider, while Palawan Express Pera Padala has become the country’s top remittance brand. The group also includes Palawan Pawnshop Jewelry for retail jewelry, Palawan Gold for investment-grade gold products, and Palawan ProtekTODO for affordable microinsurance coverage.
Through Palawan for Business, the company has developed partnerships with government institutions, banks, and fintech platforms, extending its reach particularly in remote areas. Palawan Credit offers secured loans to small and medium enterprises with competitive rates and straightforward processes.
How Has the Company Embraced Digital Innovation?
The launch of PalawanPay in April 2022 marked the company’s entry into digital financial services. The e-wallet application has over 21 million users nationwide, and offers money transfers, bill payments, and mobile loading through smartphones.
PalawanPay operates on a “BrickTech” model, combining physical branch presence with digital convenience. This approach ensures customers can choose between online and in-person transactions while maintaining consistent service quality.
“Innovation is key to staying relevant, but our foundation will always be trust, affordability, and service with heart,” explained CEO Karlo M. Castro. “We remain focused on making sure every Filipino, even those in underserved areas, feels seen, supported, and empowered.”
What Are the Company’s Future Plans?
Looking ahead, Palawan Group plans to strengthen its digital offerings while still maintaining physical accessibility. The company is developing new PalawanPay features and exploring advanced solutions for business customers, with a focus on expanding financial inclusion throughout the Philippines.
“We’re investing in the future of financial empowerment in the Philippines,” noted Castro. “We aim to expand our ecosystem with technology that makes transactions easier and lives better.”
The leadership emphasizes that technological advancement won’t compromise core values of affordability, reliability, and customer-centered service. The tagline “Mura, Mabilis at Walang Kuskos-Balungos na Serbisyo” continues to guide service delivery across all platforms.
What Does This Milestone Mean for the Industry?
The Palawan Group’s 40-year journey illustrates the evolution of financial services in the Philippines, from traditional pawnshops to integrated digital platforms. The company’s ability to adapt while maintaining foundational principles offers insights into successful business transformation in emerging markets.
As the group continues expanding under Bangko Sentral ng Pilipinas supervision, the anniversary represents more than a corporate milestone—it reflects four decades of serving Filipino communities through various economic cycles and changing preferences, continuing a trusted financial partnership that began with a simple pawnshop and now spans the entire Philippines.
For more information, you may visit the company’s official website.
Emman has been writing technical and feature articles since 2010. Prior to this, he became one of the instructors at Asia Pacific College in 2008, and eventually landed a job as Business Analyst and Technical Writer at Integrated Open Source Solutions for almost 3 years.
