Before super typhoon Yolanda brought unspeakable destruction and carnage to the Visayas region, the term “storm surge” was not yet part of the Filipino lexicon in relation to disaster preparedness. Despite the early warnings and anticipation that it could be the strongest typhoon to hit Philippine shores to date, nobody expected that the damage would …
As the Rural Bankers Association of the Philippines celebrates its 56th anniversary this year, the question is asked: Has the industry successfully met its main objective some 50 years after its creation? Admittedly, in spite of the presence of rural banks in most rural communities and their best efforts to reach out to the poor …
The rural banking industry is now starting to feel the effects of the policies laid down by regulators to encourage more growth among rural banks. In the coming months, 13 rural and cooperative banks will get to open new branches after the Bangko Sentral ng Pilipinas gave them authority to open new branches in different …
Our resiliency as a nation is once again tried after a series of natural catastrophes hit most parts of the country as the fourth quarter of this year draws in. As natural disasters strike, even the wealthiest, best-prepared countries can experience large-scale damage and destruction but the scenario is far worse in countries where there …
Inclusive growth remains an elusive dream. While rural banks have focused on the area of countryside development, there remains an enormous gap between the have’s and have not’s, particularly in the area of access to banking. As indicated in an earlier survey by the Bangko Sentral ng Pilipinas, only 25 percent of the total Filipino …
For the most part, save for the areas they operate in, rural banks are an unheralded lot. They go about their business as quietly as possible, rarely receiving the national recognition and headlines bigger banks usually get. Rural banks usually operate under the radar. It is refreshing to see some members of the rural banking …
What does earning an investment grade of “Baa3 with positive outlook” mean for ordinary Filipinos? For all the hoopla generated by the recent rating uptick given by Moody’s Investors Service, it could still mean little for our kababayans, especially for those in the poor sector, if the investment grade does not translate to food on …
Shelter is one of the basic requirements of human needs. For an ordinary Filipino, owning a house provides a sense of economic security and dignity in the society. In the rural areas, particularly agricultural workers, low-income earners and even some families of Overseas Filipino Workers, owning a house would give them some sort of ‘pride’ …
Channeling funds to housing development in the countryside Read More »
Recently, the Bangko Sentral ng Pilipinas reported that the personal remittances from Overseas Filipino Workers (OFWs) grew from 6.4 percent to $13.9 billion for the first half of 2013, compared to the same period a year ago. The sustained growth was still largely driven by the land-based OFWs whose remittances comprised of about threefourths (75.2 percent) of the …
Torrential rains brought about by Tropical Storm “Maring” recently pounded parts of Luzon including Metro Manila into submission, causing floods in a number of main thoroughfares. Aside from floods and the resulting massive traffic jams, another usual sighting during these unfortunate times is families that found their homes submerged in flood waters being relocated to higher, dry grounds by …
They say that a person’s true character is tested by the way he performs in the face of adversity. When the pressure is at its highest, that is when one’s determination is truly measured. The rural banking sector is facing a challenging time. In the midst of this, the sector still believes that the rough …
For rural banks that have diversified their revenue streams and have thus pegged themselves as a “complex” sort, the Bangko Sentral ng Pilipinas (BSP) has decided that some corporate screw-tightening is warranted. This is a fair price to pay. After all, as rural banks evolve from simply engaging in basic deposit taking and lending activities …
The perception that poor people do not save money is a tad overblown. The fact is, they do, whenever they can. According to the Bangko Sentral ng Pilipinas (BSP), as of end-March of this year, savings of microfinance clients reached P8.22 billion, a staggering improvement of 93 percent from P4.27 billion during the same period …
In yet another step in the country’s long journey toward achieving full financial inclusion, rural banks can now offer financial products like insurance policies and credit cards to their clients in the countryside, after the Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas (BSP), liberalized the framework for cross-selling of banks. Under …
Small step for rural banks, giant leap for financial inclusion Read More »
Rural banks have mixed opinions on whether the capital adequacy ratio (CAR) of 10 percent imposed by the Bangko Sentral ng Pilipinas is too punitive or just good enough to provide a safety net for rural banks and their clients. As the measure of a bank’s financial strength expressed by the ratio of its capital …
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.
