GRBank capital ratio up

MANILA, Philippines – Pampanga-based rural bank GRBank has recorded a capital adequacy ratio (CAR) of 27.36 percent end September 2008, compared with the industry average of 14.57 percent, and the rural banking system’s 13.76 percent.

GRBank was formerly known as Guagua Rural Bank. “In 2008, our net income grew by 9.7 percent, while the Philippine banks’ net income dropped an average of 34 percent.

Our liquidity ratio of 36 percent, compared to 30 percent of the rural bank industry shows we can very well meet withdrawals,” Jose L. Carlos Jr., president and chief executive officer said in a statement.

GRBank has 14 branches in Pampanga, Bataan, Zambales, Tarlac and one business office in Kamias District in Quezon City. Its range of financial services include deposits, loans and special services like Western Union, Uniteller, payroll, demand drafts, SSS payments and PVAO pensions.