The Land Bank of the Philippines recently honored its outstanding partner countryside financial institutions (CFIs) for their significant support to the Bank’s credit programs aimed at promoting countryside development. Finance Secretary and LANDBANK Chairman Cesar V. Purisima and LANDBANK President and CEO Gilda E. Pico led the conferment of 27 awards with total cash prizes of P2.7 million.
LANDBANK is now on its 12th year of paying tribute to outstanding CFIs which serve as models of excellence in rural financial services.
LANDBANK named the Peoples Bank of CARAGA, Inc. from Agusan del Sur as the most outstanding CFI in the national category followed by the Zambales Rural Bank, Inc. in Olongapo City. The Agribusiness Rural Bank, Inc. in Nueva Vizcaya bagged the third place while the Asian Hills Bank, Inc. in Bukidnon and the Rural Bank of Goa, Inc. in Camarines Sur landed in fourth and fifth places, respectively.
The first, second and third place winners in the national level received P300,000, P200,000, and P150,000, respectively while the fourth and fifth place winners received P100,000 and P75,000, respectively.
LANDBANK also gave citations and a cash prize of P50,000 each to the most outstanding rural banks in 12 political regions.
In Region 11 are Rural Bank of Digos, Inc.; Region 12 – Partner Rural Bank (Cotabato), Inc.; CARAGA – Peoples Bank of CARAGA, Inc.; NCR – Enterprise Capital Bank, Inc.
Special awards were also given to the Gateway Rural Bank, Inc. of Bulacan as Best CFI Intermediary; Zambales Rural Bank, Inc. as Best CFI Availer – Agri/Agra Loans; Rural Bank of Lingayen, Inc. of Pangasinan as Best CFI Availer – Microfinance Loans; Rural Bank of Porac, Inc. of Pampanga as Best CFI Availer – All Loans; Rural Bank of Digos, Inc. as Best in Capital Build-Up; Peoples Bank of CARAGA, Inc. as Best in Reciprocal Business; and the Progressive Bank, Inc. of Iloilo as Best in Profitability.
The recipient of the Golden Award this year is the Rural Bank of Pola, Inc. from Oriental Mindoro. The Golden Award recognizes the Bank’s past Hall of Fame awardees that have sustained highly sound and profitable operation while maintaining support to the small farmers and fisherfolk. The winner received a plaque and P350,000 as cash prize.
“We at LANDBANK consider the countryside financial institutions as vital partners in facilitating growth and development. They are key players in delivering timely credit to marginalized sectors in the rural areas, that is why we continue to expand our assistance to them.” LANDBANK president and CEO Gilda E. Pico said.
From January to June 2010, LANDBANK loan releases to 265 CFIs reached P8.18 billion, 3.1 percent higher than the P7.93 billion released in the same period last year. These loans benefited 146,015 small farmers, fisherfolk, and micro, small and medium enterprises (MSMEs) nationwide.
