Landbank fetes 16 rural banks

The Land Bank of the Philippines (Landbank) recognized 16 rural banks for their active role in countryside development by providing credit assistance to farmers and fisherfolk cooperatives, small and medium enterprises (SMEs), and microenterprises.

The Producers Rural Banking Corp. (Region 3) clinched the top place followed by the Rural Bank of Kapatagan Valley Inc. (Region 10). The Marikina Valley Rural Bank (National Capital Region) bagged the third place followed by the Rural Bank of Marayo (Region 6), and the Partner Rural Bank (Cotabato) of ARMM, fifth place.

Other regional winners are Gulf Bank (Region 1); Rural Bank of Soliven (Region 2), Golden 7 Bank (Region 5), First Agro-Industrial Rural Bank (Region 7), Rural Bank of Padre Burgos (Region 8), Rural Bank of Oroquita (Region 9), Rural Bank of Digos (Region 11), and Rural Bank of Alabel (Socsksargen).

Elevated to the Hall of Fame was the Rural Green Bank of Caraga (rural bank category), and the First Consolidation Bank, Bohol (thrift bank category).

Special awards were given to: Golden 7 Bank for best in CFI intermediary; Gateway Rural Bank for best CFI Availer-Agri-Agra Loans; Rural Bank of Marayo for best in capital build-up; Producers Rural Banking Corp. for best in profitability; Rural Bank of Kapatagan Valley for best in reciprocal business; and Marikina Valley Rural Bank for best CFI Availer under the All Loans category.

Aside from the citation, the awardees were also given cash rewards.

LBP president and chief executive officer Gary Teves reported that it had released P3-billion loans to 345 CFIs benefiting more than 40,000 small farmers and entrepreneurs.