LBP honors countryside financial institutions

MANILA, Philippines - The Land Bank of the Philippines (LBP) has honored outstanding countryside financial institutions (CFIs) for their contribution and support to its credit delivery program.

The Rural Bank of Marayo Inc. from Pontevedra, Negros Occidental was named the most outstanding CFI in the national category followed by the Peoples Bank of CARAGA from Agusan del Sur.

The Rural Bank of Digos in Davao del Sur bagged the third place while the Rural Bank of Porac in Pampanga and the Asian Hills Bank from Bukidnon landed in fourth and fifth places, respectively.

Elevated to the Hall of Fame award were the One Network Bank Inc. (A Rural Bank) of Davao City and the Philippine Rural Banking Corp. of Isabela.

The LBP also gave citations to the most outstanding rural banks in 12 political regions, namely: Region 1- Rural Bank of Lingayen Inc.; Region 3- Rural Bank of Porac Inc.; CALABARZON- Bangko Kabayan (A Rural Bank) Inc.; Region 5- Rural Bank of Sipocot (Camarines Sur), Inc.; Region 6- Rural Bank of Marayo Inc.; Region 7- Community Rural Bank of Catmon Inc.; Region 8- Rural Bank of Hindang Inc.; Region 9- Rural Bank of Labason Inc.; Region 10- Asian Hills Bank Inc.; Region 11- Rural Bank of Digos Inc.; SoCCSKSarGen- Partner Rural Bank (Cotabato) Inc.; and CARAGA- Peoples Bank of CARAGA Inc.

Special awards were also given to the Gateway Rural Bank Inc. of Bulacan as Best CFI Intermediary; GM Bank Inc. of Nueva Ecija as Best CFI Avalier- Agri/Agra Loans; Rural Bank of Lingayen Inc. of Pangasinan as Best CFI Avalier- Microfinance Loans; Rural Bank of Porac Inc. of Pampanga as Best CFI Avalier- All Loans; Rural Bank of Marayo Inc, of Negros Occidental as Best Capital Build Up; Rural Bank of Matibac Inc. of Laguna as Best in Reciprocal Business; and the Bangko Kabayan Inc. of Batangas as Best in Profitability.

Winners of the Golden Award, a new award which recognizes Hall of Fame awardees that have sustained highly sound and profitable operation throughout the years, were: Producers Rural Banking Corp. of Pasig City; First Agro-Industrial Rural Bank Inc. of Cebu; Green Bank Inc. of Butuan City; and the 1st Valley Bank Inc. of Lanao del Norte.