INVITATION: PDIC’s “Takbo Sa Pagbangon ng Leyte” on May 4, 2014

March 11, 2014

 

Dear Rural Bankers,

The Philippine Deposit Insurance Corporation (PDIC) has invited us to take part in their benefit run, “Takbo Sa Pagbangon ng Leyte,” on May 4, 2014 at the PNB Financial Center along Pres. Diosdado Macapagal Boulevard, Pasay City.

The initiative, done in partnership with Gawad Kalinga Community Development Foundation, is part of PDIC’s 50th Anniversary celebration and corporate social responsibility efforts. The proceeds of the benefit run will be used to fund the construction of shelters for the typhoon survivors in Leyte.

We encourage everyone to support this event as it serves as our chance to create a positive impact on the society and promote public awareness on the importance of protecting the environment.

Interested individuals may choose from three running events: 3, 5 and 10-kilometer races. A program and an open exhibit will also be held at the PNB Financial Center’s Ampitheater after the race.

Registration will start on March 17, 2014 at the following sites:
a. PDIC Office, 8/F SSS Building, Ayala Avenue corner Rufino St, Makati City
b. TOBY’s SM Mall of Asia
c. TOBY’s SM North
d. ROX Bonifacio Global City

A copy of the registration from is available for download on the PDIC website: www.pdic.gov.ph. or by clicking on this link: Registration Form – PDIC Benefit Run

For more details, you may contact PDIC Vice President for Corporate Affairs Group Mr. Jose G. Villaret, Jr. at telephone number (02) 841-4831 or his email address jgvillaret@pdic.gov.ph.

We shall count on your positive action towards this good cause. Thank you and our best regards.

 

Very truly yours,

 

VITTORIO Z. ALMARIO
President

BSP, PDIC Approve the Extension of SPRB Plus

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC) have approved the extension of the Strengthening Program for Rural Banks (SPRB) Plus from 31 December 2013 to 31 December 2014 with certain amendments and enhancements, to encourage more mergers, consolidations and acquisition of eligible rural banks (RBs) and thrift banks (TBs) by strategic third party investors (STPIs).

Among the approved amendments and enhancements include the relaxation of the required ownership control in an eligible bank by an eligible STPI to at least 60% (from at least 67%) of the outstanding capital stock of the eligible bank to align with the provisions of BSP Circular No. 809 dated 23 August 2013 on the rules and regulations implementing R.A. No. 10574 (An Act Allowing the Infusion of Foreign Equity in the Capital of Rural Banks, Amending R.A. No. 7353, Otherwise known as “The Rural Banks Act of 1992”).

The financial assistance (FA) from PDIC may now also be in the form of either a combination of Preferred Shares (PS) and Direct Loan, or Direct Loan (DL) only. Furthermore, as support to banks affected by typhoon Yolanda, the amount of the PS component of the PDIC FA is increased from 50 percent to 100 percent of the required additional capital to restore the eligible bank’s capital adequacy ratio to a minimum 10 percent.

The SPRB Plus, which is a joint project of the BSP and the PDIC, is an enhanced version of the original SPRB which was launched in 2010 exclusively for rural banks (RBs). In furtherance of the objectives of SPRB Module I and to promote participation under the Program, its scope was broadened and enhancements were made under the SPRB Plus such as inclusion of TBs, in addition to RBs, as among the eligible banks as well as the inclusion of TBs, universal and commercial banks (UKBs), non-bank corporations and group of companies as eligible STPIs.

With the exception of STPI UKBs and banking groups which can only avail of incentives from the BSP without the financial assistance component, all other eligible STPIs, including non-bank corporations which are not subsidiaries of UKBs, may avail of both the FA and the incentives consisting of regulatory reliefs and branching/other incentives.

The SPRB Plus aims to strengthen the banking system and to minimize bank closures.

As of 31 December 2013, five (5) merger/consolidation applications involving ten (10) banks have been approved by the PDIC and are being processed by the BSP. Moreover, there are two (2) other applications for consolidation/acquisition that are in the pipeline.

Source: http://www.bsp.gov.ph/publications/media.asp?id=3349

“USAPANG PERA: MGA DAPAT ALAMIN, A PDIC GUIDEBOOK ON BASIC BANKING & FINANCIAL TRANSACTIONS”

Dear member rural banks,

In commemoration of its 50th anniversary, the Philippine Deposit Insurance Corporation (PDIC) recently launched a book titled “USAPANG PERA: MGA DAPAT ALAMIN, A PDIC GUIDEBOOK ON BASIC BANKING & FINANCIAL TRANSACTIONS” that will serve as a practical guide for all Filipinos, from overseas Filipino workers, retirees, and senior citizens, to those in academe, and socio-civic and religious organizations on the basic principles of money, saving, banking investments, and deposit insurance.

Through this book, PDIC envisions Filipinos to be more knowledgeable in making effective financial decisions.

To download, please click on the link: http://www.pdic.gov.ph/files/UsapangPera_GuideBook.pdf

We hope that this will be used and distributed to each of our respective clients.

 

VITTORIO Z. ALMARIO
President

Repost: Consultation with PDIC

PDIC President Valentin Araneta with RBAP Directors and Trustees

Updates: If you wish to secure a copy of Pres. Araneta’s presentation,please download the file below

The commitment to further enhance the country’s banking services in rural areas has received another boost as the Philippine Deposit Insurance Cooperation conveyed its support for the rural banking sector by helping develop a core banking software that will further reinforce  the systems utilized in RBs.  The development of a new system is envisioned not only as a way for RBs to remain competitive, but also bring down operating costs while continuing to strengthen their servicing capabilities.

This technological innovation was discussed between officers of RBAP and PDIC  last January 30, 2011 at the PDIC HQ in Makati City.  Under the Strengthening Programs for Rural Banks, the thrust to technologically improve stems from the fact that RBs play a crucial l role in enhancing financial inclusion by providing affordable loans through improved, yet cost effective services to micro-entrepreneurs and farmers in the countryside.

On of the poignant points mentioned during the get-together is the strategic position of rural banks in helping amalgamate the informal sector in the countryside into the formal financial sector.  Like hitting two birds with one stone, this strategy will not only bolster the national economy, but likewise provide RBs with opportunities for growth.

PVAA Presentation to RBAP_Jan30 dialogue

 

Revised Rules on offenses, fines, and procedure in Administrative Investigations

To all Rural Bankers, please be advised of the approved promulgation on the revised PDIC Rules on Administrative Offenses, fines and procedure in Administrative Investigations.  This regulatory issuance is pursuant to Section 21 of RA No. 3591, as amended (the “PDIC Charter”), the Board of Directors of PDIC, by virtue of Resolution No. 2011-12-259 dated December 9, 2011.

For more details, please click the attached link: http://www.pdic.gov.ph/index.php?nid1=7&nid2=1&rid=203

Thank you.