Rural banks already play a big role in small communities. They serve over one million low-income families who trust them for microinsurance, loans, savings and other crucial banking services that help them build a financial foundation to support themselves and their families. As such, it is important that these services are made readily available and …
Building financial capabilities through m-banking Read More »
The government’s goal to achieve financial inclusion rests on the capability of the rural banking sector to spur countryside development. Such holistic growth depends on rural banks’ continued dedication to invest in agriculture and agrarian reform projects. Thus, the recent accreditation given by the Bangko Sentral ng Pilipinas (BSP) to another set of rural banks, …
Banking is a business of trust. It involves money, which is important to practically everybody, and anything important ought to be protected and entrusted only to those worthy. Among the poor, the trust in rural banks has always been there and continuously builds up steadily as these community-based financial institutions have shown the capability to …
Our society tends to focus too much on size. “The bigger, the better,” they said. “Size matters!” others quipped. Often overlooked in our obsession with anything large is the quiet resiliency and efficiency of the little guys. While the big ones get the glory and prestige, the little guys just keep on plugging away and …
Poverty is a constant headache for every administration. It seems that no matter what the government does–whoever is at the helm of Malacanang at a particular time—there will always be poor people and their number will always be overwhelming. One typical characteristic of being poor is the lack or utter absence of access to basic …
The spirit of “Bayanihan” was never more pronounced than the time the whole country bonded together in multi-pronged recovery and reconstruction efforts following the bout with super typhoon Yolanda. Political, religious, and ethnic differences were temporarily shelved in favor of helping each other bounce back from that harrowing ordeal. The rural banking industry epitomizes that …
In the face of the ever present stiff competition from bigger banking brethren, rural banks need to rapidly evolve and “be big enough” to remain efficient and profitable. Rural banks will continue to have a niche market in the ultra-competitive banking industry even if a spate of mergers and consolidation shapes the future of the …
The bullish outlook on remittances from overseas Filipino workers (OFWs) this year bodes well for businesses like rural banks which act as formal remittance channels and serve as an affordable conduit between OFWs and their beneficiaries here in the Philippines. Industry analysts expect OFW remittances to increase by 8-8.5 percent this year anchored on improved …
Strong inflow of OFW remittances to fuel rural banks’ growth anew Read More »
For years, the agricultural sector has been the unheralded hero of the economy, often operating under the radar compared to the more celebrated services and industry sectors. Meanwhile, the rural banking industry has consistently been supportive of agri, also in consonance with its mandate to allocate a portion of their loanable funds to the sector. …
Agribiz’s development rests on rural banks’ commitment Read More »
From a potential acquiree, rural banks may soon find themselves as a possible acquirer this time around. In a dramatic twist of events, well-capitalized rural banks are now in a position to acquire ailing cooperative banks. This came about after the Bangko Sentral ng Pilipinas (BSP), Philippine Deposit Insurance Corp. (PDIC) and Land Bank of …
Filipinos are well known for our hospitality and sharing. In fact, whenever we are eating, it is not uncommon for us to say kain na to a friend, officemate or even to a complete stranger who just happened to walk by to ask for directions. In the event of disasters, this character comes to fore …
The recent symposium of the Rural Bankers Association of the Philippines (RBAP) held in November centered on relevance for this year’s theme, believing that it is high time to examine the significance of rural banking to the owners themselves, to the clients, community and to regulators. Flags of concern should be hoisted up if any …
In the wake of the devastation brought by super typhoon Yolanda, the Rural Bankers Association of the Philippines (RBAP) has proposed to some government agencies several rehabilitation measures to help rural banks and their respective staff and clients get back on their feet following the debacle. In their proposal to the Bangko Sentral ng Pilipinas …
Following the living nightmare that was the catastrophic effects of super typhoon Yolanda, the Philippines now picks itself up towards a long and winding recovery. The country was off to a good start, at least, after it was reported that the economy grew seven percent during the third quarter. Even if the prognosis for the …
If there is one message the onslaught of super typhoon Yolanda has so savagely delivered to numerous businesses in the country, it’s that the debilitating impact of natural calamities has been increasingly harder to predict, much less prepare for. Climate change has rewritten the rules of Mother Nature. What used to be regarded as “un-floodable” …
The mission of the Rural Bankers Association is to support the ability of its members to offer quality banking services to all their constituencies, comply with regulatory requirements, and to promote the welfare of the communities in which they operate.
