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Aboitiz?s Petnet to be relaunched as ?Pera Hub?

Petnet Inc., a remittance company owned by Aboitiz Equity Ventures Inc., announced a rebranding

Petnet Inc., a remittance company owned by Aboitiz Equity Ventures Inc., announced a rebranding initiative on Thursday.

This is under the plans of the company to expand its business in money transfer, as well as venture in new areas such as money lending.

Petnet, established 17 years ago, said it was changing its brand name to Pera Hub.

The rollout of this new identity would be completed across 2,100 branches in its nationwide network by July this year, Inquirer reports.

The rebranding is in step with the company?s goal to expand the firm?s operation from being a remittance center, as well as grow in scale amid fierce competition here and abroad.

Petnet is the largest agent network here of United States-based money transfer giant Western Union.

?What we wanted to happen was to increase market share, not just within the Western Union network but also in the space of loans,? Lorenzo Ocampo, Petnet president, told reporters on Thursday.

He cited an existing tie-up with City Savings Bank for salary loans of teachers and government employee pensioners.

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