Los Baños banking system remains stable

LOS BAÑOS, Laguna, Philippines – The banking system in this “science and nature city” has remained stable notwithstanding the problems adversely affecting some of the country’s money lending institutions.

Over the years, banks have come and gone in this internationally known university town situated 60 kilometers southeast of Manila.

More than a decade ago, The STAR reported 15 government, commercial and rural banks doing business in Los Baños.

Among the big banks operating here to this day are the Philippine National Bank (PNB), Land Bank of the Philippines (LBP), and Bank of the Philippine Islands (BPI). PNB and LBP used to have two branches here but have decided to operate with only one branch each.

Others that have weathered the harsh exigencies of the banking times include the Philippine Savings Bank (PSB), BPI Family Bank, Luzon Development Bank (LDB), Rural Bank of Nagcarlan, and Plan Bank.

Los Baños municipal government records obtained by The STAR showed that aside from the “survivors” over the past decade, others have put tent in this historic town established by the Spanish regime almost 400 years ago.

These are the Metropolitan Bank and Trust Co. (Metrobank), Equitable PCI Bank, Country Rural Bank of Taguig, Planters Development Bank, and Rural Bank of Mabitac Inc.

Among the main factors that have been making banking a viable venture in Los Baños is the presence of international, regional and national academic and research institutions, and government and private entities that compose the now 22-member Los Baños Science Community (LBSC).