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2008 CFI Awards

LANDBANK honors top Countryside Financial Institutions

The Land Bank of the Philippines (LANDBANK) today honored seventeen (17) countryside financial institutions (CFIs) in special ceremonies led by finance secretary and LANDBANK chairman Gary B. Teves, agriculture secretary and LANDBANK director Arthur Yap, and LANDBANK president and CEO Gilda E. Pico. The CFIs were recognized for their active role as conduits of the Bank in channeling development funds to small farmers and fisherfolk cooperatives, micro-enterprises and small and medium entrepreneurs across the nation.

For nine years now, LANDBANK has been conferring awards to outstanding CFIs for providing financial access to small farmers and fisherfolk especially in far-flung areas. “We always value our partner CFIs for their effectiveness in bringing banking and other financial services to small borrowers even in the remotest corners of the countryside ,” Pico explained.

The CFIs which clinched the top honors are the following:
1st Place – Philippine Rural Banking Corporation (Isabela, Region 2);
2nd Place – Rural Bank of Porac, Inc. (Pampanga, Region 3);
3rd Place – Rural Bank of Mabitac, Inc. (Laguna, Calabarzon);
4th Place – Rural Bank of Digos, Inc. (Davao del Sur, Region XI); and
5th Place – Rural Bank of Sipocot, Inc. (Camarines Sur, Region 5).

Meanwhile, the First Agro Industrial Rural Bank, Inc. in Cebu was conferred the Hall of Fame Award after being named the most outstanding CFI in Region VII from 2003 to 2005, second most outstanding CFI in 2005, and first placer in 2006.

Thirteen (13) other CFIs were named as regional winners while special awards were also given to Zambales Rural Bank, Inc. for Best in CFI Intermediary; GM Bank (A Rural Bank), Inc. for Best CFI Availer of Agri/Agra Loans; Philippine Rural Banking Corporation, Inc. for Best CFI Availer of microfinance loans; Rural Bank of Porac, Inc. for Best CFI Availer of all loans, Bangko Kabayan, Inc. for Best CFI in Capital Build-up; People’s Bank of CARAGA, Inc. for Best in Reciprocal Business; and the Rural Bank of Sipocot, Inc. for Best in Profitability.

As of July 2008, LANDBANK’s outstanding loans to 390 CFIs reached P7.4 billion benefiting a total of 172,181 small farmers, fisherfolk, and entrepreneurs nationwide.