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Archives for March 2012

UPDATED – RBAP 59th Annual National Convention at Boracay Regency (May 24-25, 2012)

Dear Fellow Rural Bankers,
Greetings!
Please be reminded, today, MARCH 30, 2012 (Friday) is the LAST DAY for EARLY BIRD REGISTRATION.
To enjoy the 1,000 peso discount, send in your Registration Forms and proof of payment to RBAP until 5:00 PM.

For your hotel accommodation, we have an updated list of recommended hotels at corporate rates.
Reserve now by sending your filled up Booking Form at RBAP Accommodations Committee.
For more details, please call (02) 527-2968, (02) 527-2972 , FAX: (02) 527-2980, (02) 527-2969.
Thank you and see you there!
DOWNLOAD:

annex B – Booking Form with NEW RECOMMENDED HOTELS

RBAP 2012 Election of Officers

Dear Fellow Rural Banker:
In connection with the forthcoming RBAP 59th Annual Corporate Meeting to be held on May 24, 2012 at the Boracay Regency Beach Resort and Spa, we would like to advise all to download and review the attached files below:

Please take note that the deadline for the submission of the Certificate of Candidacy is on  May 9, 2012 (Wednesday).

Thank you.
Very truly yours,
VICENTE R. MENDOZA
Executive Director

Rang-Ay Bank’s 21st branch is now open for business

Rang-Ay Bank's 21st Branch

​A fast growing bank, the Rang-ay Bank formally opened its 21st banking office last February 27, 2012 located at the heart of the municipality of Bangar, La Union. 

The ceremonial ribbon cutting was led by the town Mayor Joy Pinzon-Merin, with former PRC Board of Dentistry Chairman Dr. Rosita Canlas-Nisce. Rev. Fr. Gregorio Q. Nillo, Parish Priest of St. Christopher Church, officiated the blessing of the newly opened branch. Rang-ay President & CEO, Ives Q. Nisce in his opening remarks stated that the opening of Bangar Branch is the first branch to open, of the ten (10) Banking Offices approved by the Bangko Sentral ng Pilipinas. Nisce is proud that Rang-ay Bank is a home-grown bank, with it’s head office in San Fernando City, La Union. The bank now has 21 branches spread in six provinces of the north: Ilocos Sur, Ilocos Norte, La Union, Pangasinan, Abra and Benguet.

​Hon. Joy Pinzon-Merin welcomed the opening of the  Branch and expressed the belief that the presence of Rang-ay Bank in Bangar signals  improved economic activity of the municipality as it  provides easy and affordable access to credit  for the local farmers and entrepreneurs.

Rang-ay Bank President and CEO Ives Nisce renewed the bank’s commitment to establish branches in towns which have limited access to formal financial services. “We would like to ensure that Rang-ay Bank services are accessible to a greater client base and to grant more people access to banking services,” said Nisce. This is in line with the advocacy of greater financial inclusion by BSP Gov. Tetangco. The opening of this banking office will surely bring banking services to the doorstep of the townspeople of this northern town of La Union, long famous for it’s hand-woven blankets.

PAL approved convention fare rate for RBAP

To all rural bankers interested in joining the the Annual National Convention in Boracay, please be informed of the latest fare rates approved by Philippine Airlines for RBAP members.

 

Sale Period:                        23 March to 15 April

Travel Period:                   To Manila  18 – 24 May; From Manila 25 to 31 May

Routing:                                LGP/BCD/CEB/RXS/TAC TAG – MNL v.v. or MINDANAO – MNL v.v.

Applicable Discount:      10 % on Gross fares

Mindanao Points:            Butuan, Cagayan de Oro, Cotabato, Davao, Dipolog, General Santos, Ozamis, Zamboanga

 

To know more on this latest fare rate, download the attached file here:  RBAP.  Kindly take note of the dates and deadlines in order to avail this offer.

Many thanks and we hope to see you all in May.

19th Microinsurance Basic Training Course on April 24 – 25, 2012

RBAP-RBRDFI invites you to the 19th Microinsurance Basic Training Course. It will be held on April 24 – 25, 2012 at the RBAP Conference Hall, 2F RBAP Bldg., Intramuros, Manila. This training aims to enhance the capacity of rural banks to serve as effective delivery channels for microinsurance services for the low-income clients. It is also designed to ensure compliance to the following regulations:

– BSP Circular 683: Marketing, Sale and Servicing of Microinsurance Products

– BSP Memo 015: Reminder on the Proper Offering of Microinsurance Services

– Joint IC-CDA-SEC Memo Circular 1-2010: Defining Government’s Policy on Informal  Microinsurance Services

– IC Memo Circular 1-2010: Regulations for the Provision of Microinsurance Products and Services

Target participants to the Basic Microinsurance Training are Bank Heads/Managers, Compliance Officers, Marketing Staff/Officers, Business DevelopmentOfficers, Microfinance Supervisors, Loans Officers/Supervisors and Account Officers.

For more details and to download the Nomination Form, Participant Form and the Training Agenda, click on the following:

– Invitation_Manila_April 2012
– Nomination Form_Manila_April 2012
Profile Info Sheet_April 2012
– Training Agenda_Manila_Apr 2012

Please forward to RBAP-RBRDFI your filled-out nomination form and participant information sheet on or before April 18, 2012 thru fax (02) 527-2980 or email to reonore082011@gmail.com. For training and licensing concerns, you may also contact MI Project Coordinator Ms. Ghay Mapano at 02 5272972/09186353235 or gpmapano@yahoo.com or MI Training Officer Ms. RN Pardilla at 02 527-2968/09163107488.

We look forward to your participation.

Thank you.

 

Updated: Additional papers on CSTRB Management Course now available

For those who are keen on securing copies of of Assistant Governor Yuvienco’s and Director Gail Fule’s lectures during the recently concluded Southern Tagalog Management Conference in Ilocos, you may now download their ppts  from this site.  You may also download from our Slideshare account by just following and clicking RBAPAT54.

Please continue monitoring our site for more updates.

Thank you.

Reg Updates

Latest modus operandi targeting remittance agents

This is regarding fraudulent/ illegal scheme perpetrated against remittance centers by means of deceit and/or misrepresentation.  Due to the  recent illegal act that affected one remittance Center (non-bank), all management and personnel should heed the cautionary directives, stipulated in BSP Circular Letter No. 19. As stated in the circular, the perpetrators seem to be targeting young and inexperienced personnel who are easily cowed by “authoritative” characters.

As a precautionary measure, we advise all to disseminate this information so as to prevent any untoward incidents in the future.

To know more on this, please click here  cl019_Modus Operandi to download the circular.  Thank you.

 

Philippine Star: RBs to boost consumer, SME lending portfolio

Philippine Star — The country’s rural banks will be aggressively lending to the consumer and small and medium enterprise (SME) markets this year, a bank official said.

According to Rural Bankers Association of the Philippines (RBAP) president Ian Eric Pama, the high level of liquidity, low interest rate environment, and strong competition within the country’s banking systemserve as a perfect condition for robust lending.

Pama added that rural banks would likewise increase their presence in the urban areas outside Metro Manila.

“Rural banks will also expand aggressively in urban areas to capture these markets. And these are the thrift banks’ traditional market base,” the RBAP head added.

One reason for the gradual shifting of attention is that competition in the microfinance sector is “getting stiffer.”

“A lot of non-government organizations (NGOs) and foundations are into microfinance and they are not regulated by BSP (Bangko Sentral ng Pilipinas). There is no level playing field for rural banks, so we expect increased lending to SMEs and consumer market,” he added.

And a lot of these groups, including the microfinance institutions (MFIs), are getting support fromcommercial banks.

Still another reason is the swift urbanization of a lot of towns and municipalities where rural banks have strong presence. As these towns prosper and grow, the same goes with their credit needs and credit appetite, he said.

Urbanization means more lending to the consumer and SME markets, a strong potential for deposits, and expansion of other bankingservices.

Latest data from the BSP reflect a 4.1 percent growth in deposits in the first three quarters of 2011. Demand and new deposits went up 14.6 percent.

In the same period, rural banks exceeded the 10-percent allocation for agrarian reform credit by over 14 percent.

For microfinance lending, latest data reflect an amount of P5.8 billion in early 2011.

Nonetheless, Pama said that there would still be a pressing need for the rural banking system to consolidate.

“I expect more consolidations in the sector in the near future because as they say, size is might. To be able to compete competitively, size does really matter,” the RBAP president explained.

He further explained that the entry of new and younger generations of rural bankers signals a shift of new ideas.

Please click the Philippine Star link to read the full article:

http://www.philstar.com/Article.aspx?articleId=788144&publicationSubCategoryId=66

 

Early bird registration ends March 30

TO: CONFED/FEDERATION PRESIDENTS
FROM: VICENTE R. MENDOZA, Executive Director
RE: REMINDER FOR EARLY BIRD REGISTRATION
2012 ANNUAL CONVENTION, BORACAY REGENCY
—————————————————————————————————————————-
Dear Confed/Federation Presidents,
Greetings!
In line with the  upcoming RBAP Annual National Convention in Boracay on May 24-25, 2012, please be reminded that the last day for Early Bird Registration is on March 30, 2012 (Friday). To avail the one-thousand-peso discount, we encourage all Confed/Federation heads to remind your respective members to register on or before the said deadline. The early bird registration fee is P 5,800.00.
For accommodation matters, we have a new list recommended hotels for your convenience.  Please click the following link Annex B- NEW for details.  As for air transportation, we also have a special rate from Philippine Airlines.
For additional details,  please call RBAP Secretariat at (02) 527-2972/(02) 527-2980.  Our phone lines are open from 8:30 to 5:30, Monday to Friday.
Thank you.

Authority to open/extend banking operations

To all authorized BIR Agent Banks, Memorandum 014 of the BSP authorizes said agent banks to render banking services from 9 am to 5 in the afternoon on march 31 and April 14 and; extend banking operations up to 5 pm from April 2 to 15, 2012.

The above directive is to assist the BIR in receiving tax payments covering calendar year 2011.

To secure a copy of the memo, please click here: m014

Thank you.

Manila Times: RBAP to take advantage of strong growth forecast in mobile banking

Manila Times —THE Rural Bankers Association of the Philippines (RBAP) is looking to capitalize on the projection of a strong growth in the mobile banking business this year, driven by the continuous flexibility of carriers to adapt according to market needs.
RBAP President Ian Eric Pama said that rural banks will utilize the advantages of cellular phone-based banking in order to hurdle geographical barriers for the industry.

“Now, more than ever, we should use mobile banking to reach out to our clientele and deliver our service to them. If the prognosis of research firms is correct, then we should ride this wave as much as we can,” he said.

“RBAP has long been an active proponent of mobile banking. But with forecasts backing us up, they give the association’s vision more fuel,” he added.

Information and Communications Technology (ICT) research firms see a big jump in the Philippine mobile banking industry this year. Based on its 2012 predictions for the Asia Pacific Region, ICT research firm XMG Global, founded and headed by Filipino-Canadian Lauro Vives, said that the region will be the world’s fastest growing mobile and broadband market with over 3 billion connections this year.

According to XMG, the growth will be driven by three factors: continuous efforts of telecommunications companies to invest an average of 17.4 percent of revenues into capital expenditures to meet emerging demand; variety and flexibility of payment and billing schemes; and low-cost handsets. In the Philippines alone, Smart Communications and Globe Telecom are investing close to P100 billion to upgrade their networks.

In addition, another leading ICT research firm, Gartner, Inc., said that the Philippines is one of only two countries—the other is Kenya—that have successfully implemented mobile payment solutions in micropayments services to distribute money in far-flung areas.

Telecommunications companies like Globe Telecom and Smart Communications have long been employing GCash and Smart Money, respectively, in micropayments services. Smart affiliate Sun Cellular also has its Mobile Pay platform which caters to small and medium scale industries, and small businessmen.

Gartner said that unlike in developing countries, payment schemes using cell phones have been accepted here especially in rural areas in lieu of using cash or credit cards, with the latter remaining largely underutilized. The research firm attributed the success of the Philippine model to the decision of local carriers to adapt their strategies to local market requirements and conditions instead of making the market adapt to them.

Industry experts see mobile banking as the future of rural banking and microfinance especially in remote areas. With mobile phone penetration rate expected to rise to 98 percent by 2015, this gives banking services a broad market base to work with for years to come.

Mobile banking provides a more secure way of making transactions instead of the risk of carrying cash, making one’s cell phone a virtual electronic wallet that can be used for various transactions via text message, like paying bills, purchasing goods and services, and receiving even salary via text-a-sweldo or remittances from abroad via text-a-remittance. In the provinces, mobile banking also bridges the geographic challenges of banking—where banks are usually located in town centers, far from clients who are often in far flung, often inaccessible barrios.

“Microentrepreneurs have utilized mobile banking to the hilt, which used to be an exclusive domain of big businesses. Using cell phones to send and receive money has changed the way rural microentrepreneurs operate and make a living, it has added another positive dimension to doing business in the provinces” said Pama.

“For rural banks, mobile banking provides them with more services and broadens their client base. It also reduces interest and transaction costs for their clients and it is much more secure and simple to use. After all, text messaging is so easy do,” he added.

Since 2005, RBAP’s member rural banks and Globe Telecom’s G-Xchange Inc. (GXI) have processed over P14 billion in GCASH transactions facilitating greater access to banking services in the rural areas. This number is expected to increase this year as rural banks partner with GXI to offer PowerPay+, the first payroll service linked to a mobile wallet with insurance coverage, to better manage payroll in the countryside. It comes with an ATM card allowing withdrawal of salaries from any of the 9,000 ATMs nationwide. Employees also have the option to get their pay from the thousands of GCASH outlets using the GCASH-registered SIM linked to their ATM Card. With PowerPay+, they can take charge of their salaries, get financial security for unforeseen events and enjoy GCASH mobile money services like buying load, sending money and paying bills conveniently.

RBAP has also signed a collaborative agreement with Smart Communications and recently launched a series of training courses to assist member rural banks to provide money-in and money-out services as well as facilitate the distribution of Smart Money instant cards to rural bank customers in the countryside. The benefit of the Smart Money card is that it is an ATM and MasterCard Debit card linked to a Smart Money wallet.

“With these partnerships, we expect that we will continue to see a significant uptake in mobile money-enabled banking transactions in the years to come” said Pama

“We thank the support of our Telecom partners, Globe and Smart Communications, and the support of USAID [United States Agency for International Development] for the RBAP-MABS [Microenterprise Access to Banking Services] program which has helped us to make this dream a growing reality,” he added.

*Please click the following Manila Times web link to read the full article: http://www.manilatimes.net/index.php/business/top-business-news/19690-rbap-to-take-advantage-of-strong-growth-forecast-in-mobile-banking-this-year

 

Recommended hotels for 2012 Convention in Boracay

For those who wish to book a hotel accommodation for the upcoming convention in Boracay, please be informed that the Secretariat  has come up with a new list of recommended hotels for member RBs.  Nonetheless, since the convention will be held during the summer peak season, we encourage all to formally confirm your booking to RBAP as soon as possible.
With regards to the guaranteed allocated rooms at the Boracay Regency Hotel, we would like to remind RBAP members that all rooms (i.e. Superior, Family, Deluxe) are now fully booked, as we have stated in our previous post, dated March 19.
To download the list, please click here: Annex B- NEW.
Thank you.

MPB (G-Cash) Training – Pansol Calamba Laguna -March 30, 2012

TO : 		ALL SOUTHERN TAGALOG RBAP MEMBER RURAL BANKS

SUBJECT : 	MOBILE PHONE BANKING TRAINING COURSE FOR SOUTHERN TAGALOG RBAP
MEMBER RURAL BANKS

We are inviting you to participate in a one-day Mobile Phone Banking
Accreditation Training and become part of the increasing number of GCASH
partner rural banks offering mobile phone banking services to their
clients and enjoy the benefits to earn additional fee-based income from
GCASH transactions, cost savings in mobile payment and increase deposit
level through mobile phone banking services.

GCASH is an electronic money platform of Globe Telecom that turns your
cellphone into an electronic wallet. With GCash, Globe and Touch Mobile
subscribers can perform mobile phone banking functions such as deposit,
withdraw, remittance (local and abroad) and other mobile payments through
the use of mobile phone. Through Rural Bankers Research and Development
Foundation, Inc. (RBRDFI) together with RBAP’s Microenterprise Access to
Banking Services (MABS) Program and G-Xchange, Inc. (GXI), subsidiary
company of Globe Telecom the accreditation training will be conducted in
the following area:

Date   March 30, 2012
Target Participants : Southern Tagalog  Rural Banks
Venue: Makiling Highlands Resort, Pansol Calamba, Laguna

This training focuses on the following objectives:

1)	Accreditation Training – For interested rural banks planning to obtain
accreditation to offer cash-in and cash-out services using the GCASH
platform as well as to apply to the BSP as a bank authorized to offer
mobile phone banking services utilizing the GCash Platform.  This
accreditation training will provide the rural banks with all the BSP
reviewed RBAP-MABS mobile phone banking procedures and manuals required to
fulfill BSP electronic banking requirements for the use of mobile phone
banking services using the GCASH platform.  Note that, as part of the
accreditation process, all banks will still need to get a “no objection”
letter from the Supervision and Examination Sector of the BSP before they
can complete the accreditation process but we will include a proforma
letter in the kit for the banks as part of the training.

2)	Refresher Course – The course will also serve as refresher course for
previously accredited rural banks who are interested in expanding and
receiving an update on the latest mobile phone banking services as well as
to learn some of the “tricks of the trade” from examples of successful
banks and their clients who are now regularly using mobile phone banking
services.

3)	Implementation Training – The course will also provide a how-to
step-by-step guide for banks that plan to initiate mobile phone banking
services.

The training is designed for senior officers (from Marketing,
Compliance/Audit Dept, and/or Operations) that are in the position to
cascade this training and facilitate the implementation of recommended
procedures within the bank. Each bank is allowed to send up to 4
participants.

For more information about G-Cash and mobile phone banking services,
please visit Globe and RBAP’s websites at www.g-cash.com.ph/ and
www.mobilephonebanking.rbap.org  respectively.

All interested rural banks must comply individually with the regulatory
requirements set forth by the BSP:

➢	Certification that the bank has complied with the minimum
pre-conditions set forth in circulars 240 and 269 (signed by the President
of the Bank).  Please see checklist of requirements found in the Mobile
Phone Banking Accreditation Kit for more details.
➢	Attended this Accreditation Training.
➢	CAMELS rating of at least 3.0 with no major exceptions noted in
the latest BSP examination.

The training fee is normally priced at P 2,500.00 per participant
inclusive of materials, food and venue. With support from GXI and RBAP’s
MABS, the training fee is reduced to P1,400.00. However, for those who
register and pay at least a week before the event, the early bird fee is
reduced to P1,000.00 per participant. Note that there is a minimum of
twenty (20) participants in order to hold this event and you will be
notified in advance if the minimum number is not met at least two days
before the course. Please deposit your payment to the RBRDFI Account No.
0012-1046-26 at Landbank, Intramuros, Manila Branch.

Attached are the training agenda for your advance information and
confirmation sheet for your reservation.

Kindly accomplish the confirmation and fax it to RBAP at (02) 527-2980 or
to MABS Office at (02) 400-4561 (Manila).

Should you have any questions, please feel free to contact Mr. Ace Calang
of RBRDFI at (02) 527-2968 to 69 or Ms. Roselle Hernandez of MABS-Manila
Office at (02) 400-0971 or 0917-545-6227.

Thank you for your support and interest in this important training event.

MA. CORAZON L. MILLER
CHAIRPERSON


Download the Invitation in PDF

MPB (G-Cash) Training – Pansol Calamba Laguna -March 30, 2012

TO : 		ALL SOUTHERN TAGALOG RBAP MEMBER RURAL BANKS

SUBJECT : 	MOBILE PHONE BANKING TRAINING COURSE FOR SOUTHERN TAGALOG RBAP
MEMBER RURAL BANKS

We are inviting you to participate in a one-day Mobile Phone Banking
Accreditation Training and become part of the increasing number of GCASH
partner rural banks offering mobile phone banking services to their
clients and enjoy the benefits to earn additional fee-based income from
GCASH transactions, cost savings in mobile payment and increase deposit
level through mobile phone banking services.

GCASH is an electronic money platform of Globe Telecom that turns your
cellphone into an electronic wallet. With GCash, Globe and Touch Mobile
subscribers can perform mobile phone banking functions such as deposit,
withdraw, remittance (local and abroad) and other mobile payments through
the use of mobile phone. Through Rural Bankers Research and Development
Foundation, Inc. (RBRDFI) together with RBAP’s Microenterprise Access to
Banking Services (MABS) Program and G-Xchange, Inc. (GXI), subsidiary
company of Globe Telecom the accreditation training will be conducted in
the following area:

Date	:       March 30, 2012
Target Participant RBs :Southern Tagalog Rural Banks
Location:       Makiling Highlands Resort, Pansol Calamba, Laguna

This training focuses on the following objectives:

1)	Accreditation Training – For interested rural banks planning to obtain
accreditation to offer cash-in and cash-out services using the GCASH
platform as well as to apply to the BSP as a bank authorized to offer
mobile phone banking services utilizing the GCash Platform.  This
accreditation training will provide the rural banks with all the BSP
reviewed RBAP-MABS mobile phone banking procedures and manuals required to
fulfill BSP electronic banking requirements for the use of mobile phone
banking services using the GCASH platform.  Note that, as part of the
accreditation process, all banks will still need to get a “no objection”
letter from the Supervision and Examination Sector of the BSP before they
can complete the accreditation process but we will include a proforma
letter in the kit for the banks as part of the training.

2)	Refresher Course – The course will also serve as refresher course for
previously accredited rural banks who are interested in expanding and
receiving an update on the latest mobile phone banking services as well as
to learn some of the “tricks of the trade” from examples of successful
banks and their clients who are now regularly using mobile phone banking
services.

3)	Implementation Training – The course will also provide a how-to
step-by-step guide for banks that plan to initiate mobile phone banking
services.

The training is designed for senior officers (from Marketing,
Compliance/Audit Dept, and/or Operations) that are in the position to
cascade this training and facilitate the implementation of recommended
procedures within the bank. Each bank is allowed to send up to 4
participants.

For more information about G-Cash and mobile phone banking services,
please visit Globe and RBAP’s websites at www.g-cash.com.ph/ and
www.mobilephonebanking.rbap.org  respectively.

All interested rural banks must comply individually with the regulatory
requirements set forth by the BSP:

➢	Certification that the bank has complied with the minimum
pre-conditions set forth in circulars 240 and 269 (signed by the President
of the Bank).  Please see checklist of requirements found in the Mobile
Phone Banking Accreditation Kit for more details.
➢	Attended this Accreditation Training.
➢	CAMELS rating of at least 3.0 with no major exceptions noted in
the latest BSP examination.

The training fee is normally priced at P 2,500.00 per participant
inclusive of materials, food and venue. With support from GXI and RBAP’s
MABS, the training fee is reduced to P1,400.00. However, for those who
register and pay at least a week before the event, the early bird fee is
reduced to P1,000.00 per participant. Note that there is a minimum of
twenty (20) participants in order to hold this event and you will be
notified in advance if the minimum number is not met at least two days
before the course. Please deposit your payment to the RBRDFI Account No.
0012-1046-26 at Landbank, Intramuros, Manila Branch.

Attached are the training agenda for your advance information and
confirmation sheet for your reservation.

Kindly accomplish the confirmation and fax it to RBAP at (02) 527-2980 or
to MABS Office at (02) 400-4561 (Manila).

Should you have any questions, please feel free to contact Mr. Ace Calang
of RBRDFI at (02) 527-2968 to 69 or Ms. Roselle Hernandez of MABS-Manila
Office at (02) 400-0971 or 0917-545-6227.

Thank you for your support and interest in this important training event.

MA. CORAZON L. MILLER
CHAIRPERSON

Download the Full Invitation and Confirmation Sheet in PDF

The 2012 Visayan Management Conference: Rising above the Challenge

How will the rural banking industry adhere to the principles of corporate governance, in the light ofcompeting interests of various stakeholders and key personalities of a corporation?  This was the pervading question that the Visayan Management Conference attempted to address as the circular on governance guidelines for BSP supervised financial institutions finally took effect last February.  Fortunately, the two-day affair in Cebu, titled “Good Governance: Continuing Challenge for Rural Banks” did just that by directly responding and acknowledging the challenges that affect the foundation of the rural banking industry.  Instead of ignoring the issue(s), the speakers and lecturers were upfront in informing the participants’ of the ills that at times plague the sector and, the fundamental values that can help address these issues in order for the industry to rise above and become formidable in the future.

Past President Kintanar’s opening speech at the Ballroom of the Waterfront Hotel in Cebu City last March 15 perfectly epitomized the steadfastness and pragmatic approach of the various confederations that attended the two-day affair.  Recognizing the need to “harmonize” the opposing interests that threaten the stability of some banks, he suggested 5 principles that should be heeded by practitioners such as independence, loyalty, long term sustainability, ethics, fairness and accountability.

While all of those that he pointed out are crucial, the most poignant was his call to uphold credibility as the sector operates in a smaller community where “adverse information is contagious, contiguous, contumacious and carried by word of mouth with accelerating distortion.” Thus, management, board members and owners must always exercise moral uprightness and foster professionalism.

He ended his speech by saying this age old adage: “If the salt has lost its flavor, wherewith shall it be salted?”   Rural Bankers you are the salt and your credibility is that flavor.”

For more on the 2012 Visayas Management Conference, we highly encourage all to download the speeches of BSP Assistant Governor Yuvienco, Past President Kintanar, Director Gail Fule and other keynote speakers from our Slideshare account, embedded below.   Thank you.