Palawan Group of Companies is celebrating 40 years in the financial services sector, highlighting its journey from a single pawnshop in Puerto Princesa to a nationwide brand serving millions of Filipinos.
The company began in 1985 when spouses Bobby and Angelita Castro opened a small pawnshop in Palawan. Their aim was to provide affordable and reliable services to locals. The business grew steadily, driven by word of mouth and a focus on community needs.
“We didn’t start this journey with big capital or grand ambitions; we simply wanted to help,” said Bobby Castro, founder and chair, during the group’s 40th anniversary press conference. “Every suki who walked through our doors was family. That mindset guided us then, and it still guides us now as we continue to grow.”
The company’s steady growth over four decades is attributed to its customer-first approach and focus on serving underserved communities, particularly in remote areas. Palawan Group now operates over 70,000 branches, outlets, and money shops across the country.
“This anniversary is deeply personal for our family. It reminds us of every challenge we’ve faced and every Filipino we’ve served. At the heart of it all is love: love for our people, our sukis, and our country. We will continue to serve with passion and humility in the years to come,” said Angelita Castro, co-founder and deputy chair.
Today, Palawan Group operates a wide range of services. These include Palawan Pawnshop, known for its pawning and jewelry retail services; Palawan Express Pera Padala, a leading domestic remittance brand; and PalawanPay, its digital wallet launched in 2022. PalawanPay now has over 21 million users and supports money transfers, bill payments, and mobile loading.
The company’s “BrickTech” approach combines physical stores with digital services, allowing more Filipinos to access financial tools while keeping a strong community presence.
As it enters its fifth decade, Palawan Group says it remains focused on financial inclusion and delivering services that support the daily needs of Filipino families.