Palawan Pawnshop – Palawan Express Pera Padala is a Philippine-based pawnshop and non-banking financial institution offering services such as pawn-broking, money remittance, insurance, bills payment, remit-to-account, corporate payout, collections, and electronic reloading. It is headquartered in Puerto Princesa, Palawan.
History
It was founded in 1985, originally owned by the Rodriguez family, with the intention of providing cash-based financial assistance to the common folk of Puerto Princesa. It would later be acquired by spouses Bobby Castro and the former Angelita Maligalig, two former activists and both coming from a military family background. Bobby had wanted to establish a business portfolio of his own apart from managing his father's business.[1] After acquiring the business from the Rodriguez family for ₱40 thousand,[2] its first outlet was established along Malvar Street in the city.[3]
In 2021, digital cross-border payment service WorldRemit partnered with Palawan Pawnshop to increase its remittance network.[4]
In the beginning of 2024, Castro's eldest son Karlo took over as President and CEO. However, he stayed on to become the Chairman of the Palawan Pawnshop Group.
References
- Annelle Tayao-Juego. Ex-activists find a new cause Philippine Daily Inquirer, 3 February 2019, retrieved 23 December 2021^
- Palawan Pawnshop CEO Bobby Castro receives honorary doctorate degree BusinessMirror, 26 June 2021, retrieved 23 December 2021^
- Palawan show to mark pawnshop's 30th year Philippine Daily Inquirer, 14 August 2015, retrieved 23 December 2021^
- Faye Almazan. WorldRemit ties up with Palawan Pawnshop The Manila Times, 19 February 2021, retrieved 11 January 2022^