LANDBANK honors outstanding countryside financial institutions
DAVAO CITY - The Land Bank of the Philippines recently honored sixteen rural banks for their outstanding performance and their contribution to helping finance countryside development.
Finance secretary and LANDBANK chairman Gary Teves, Davao City mayor Rodrigo Duterte and LANDBANK acting president and CEO Gilda E. Pico conferred the awards to the winning rural banks in ceremonies held at the Marco Polo Hotel, Davao.
"This is LANDBANK's way of showing our deepest gratitude to our partner CFIs, who, as our credit conduits, serve as our important allies in helping set the stage for progress in the countryside," Pico said. As of end-June 2005, LANDBANK has released over P4 billion to 339 CFIs benefiting more than 58,000 borrowers nationwide including those engaged in agri-agra projects which are among LANDBANK's priority clients.
The top honors as the Most Outstanding Countryside Financial Institution went to the First Valley Rural Bank of Baroy, Lanao del Norte, first place; Marikina Valley Rural Bank from Marikina City, second place; Philippine Rural Banking Corporation of Cauayan City, Isabela, third place; Golden 7 Bank of Naga City, fourth place; and the Rural Bank of Pola from Pola, Oriental Mindoro, fifth place. 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 to the most outstanding rural banks in each region, namely: Region 1 - Gulf Bank Inc.; Region 2 - Philippine Gateway Rural Banking Corporation; Region 3 ? Gateway Rural Bank, Inc.; CALABARZON - First United Farmers Bank; MIMAROPA ? Rural Bank of Pola, Inc.; Region 5 - Golden 7 Bank, Inc.; Region 6 - Rural Bank of Marayo; Region 7 - First Agro-Industrial Rural Bank; Region 8 - Rural Bank of Padre Burgos, Inc.; Region 9 - Rural Bank of Labason, Inc.; Region 10 ? First Valley Rural Bank, Inc.; Region 11 - Tagum Rural Bank, Inc.; ARMM - Partner Rural Bank of Cotabato; SoCSKSarGen ? Peninsula Rural Bank, Inc; and NCR - Marikina Valley Rural Bank, Inc.
Special awards were also given to the First Valley Rural Bank as Best in Capital Build Up; Tagum Rural Bank as Best in Profitability; Producers Rural Banking Corporation as Best in Reciprocal Business; Gateway Rural Bank as Best CFI Availer-Agri/Agra Loans; Marikina Valley Rural Bank as Best CFI Availer - All Loans; and Golden 7 Bank as Best CFI Intermediary with the lowest pass-on rate.
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