President's Message for RBAP's 47th Charter Anniversary Symposium

Grand Ballroom, Century Park Hotel, Malate, Manila
October 12-13, 2004


The Rural Bankers Association of the Philippines (RBAP) heads toward a new milestone as it celebrates the 47th Charter Anniversary. The theme for this year’s symposium, “Good Governance: Rural Banks’ Response to Community Development” signifies the deepening of our commitment to the development of the countryside. Rural banks are strategically positioned all over the country to provide credit, savings mobilization and financial services in the local communities. In order to maintain a long lasting business reputation, it is important for us to seriously adopt the principles of good governance in our daily operations and management decision-making. Depositors will be better assured of a stable network of banks when fairness, accountability and transparency are used in bank management and credit operations. Good governance guarantee fair and equitable treatment of clients.

The government is now more aware of rural banks’ capability to sustain market-driven credit initiatives that help reduce poverty and create employment. Indeed, rural banks are becoming busy financial centers in the countryside. RBs render financial and non-financial services including inward money remittances and pay-outs, domestic fund transfers, bills collection, payment and payroll services and salary loans. In this respect, RBs with 1,900 offices aim to create viable rural credit centers and market exchanges of agricultural products, services and information to support the national development program.

RBs microfinance loans are estimated to be Php 2.1 Billion or about 3% of the system’s total loan portfolio in June 2004. The systems’ loan portfolio is comprised of Php 413 Million loans under the Microenterprise Access to Banking Services (MABS) program and Php 1.6 Billion for Peoples Credit and Finance Corporation (PCFC) RB partners. Rural banks reached more than 250,000 estimated microentrepreneurs in the countryside. Of equal significance is the fact that member banks mobilized Php 355 Million in new savings from MABS clients for the same period giving proof to the savings capability and “bankability” of the enterprising poor.

With these positive achievements, RBAP is expanding the ranks of member banks to engage in microfinance lending, and to adopt best practices, information sharing and prudent risk management. By propagating viable microfinance technology applied within the framework of corporate governance, rural banks can become strong both in controlling risk and attaining financial growth.

In this symposium, the discussions will ventilate relevant concerns, issues and opportunities in the rural finance experience. We shall talk about measures and declare common resolutions that will empower 730 member banks to help advance the government’s “10-Point Agenda”. More importantly, rural banks will fortify its resolve to adopt and internalize good governance as a cornerstone of management principle in the fulfillment of its role of priming up sustainable development credit, production and income activity cycles. Certainly, micro, small and medium enterprises will find RBs their most dependable bankers and trustworthy friends.

Without doubt, our strategic partners and government will firm up their realization that rural banking industry is the ideal network vehicle of national development and productivity.




SENEN D. GLORIOSO
RBAP President, 2004-2005


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