Land Bank lauds strong CFIs

The Land Bank of the Philippines (Land Bank) has recognized top countryside financial institutions (CFIs) for making their presence count in rural places no matter the heightened competition from bigger banks and non-banks institutions. Land Bank President & CEO Gilda E. Pico paid tribute to outstanding partner CFIs for their valuable support to the Bank’s various credit programs promoting countryside development. From January to June this year, Land Bank extended PhP9.8 billion in loans to CFIs, benefiting 165,478 farmers and fishermen nationwide. The outstanding CFIs serve as models of excellence in rural financial services. Land Bank gave total cash prizes of PhP1.95 million. Conferred with the Golden Award was the One Network Bank Inc., a rural bank in Davao City, Southern Philippines. One Network was chosen for its continued support to small farmers and fisherfolks as evidenced by their increasing number of small farmers and fisherfolks assisted and loan portfolio to the sector. Land Bank named the Rural Bank of Goa Inc. from Camarines Sur, Southern Philippines as the most outstanding CFI in the national category, followed by the Gateway Rural Bank Inc in Bulacan, Northern Philippines. The Rural Bank of San Jose, Inc. also in Camarines Sur bagged the third place while the Rural Bank of Cauayan City and the Catilan Bank, Inc. in Surigao del Sur, also in Southern Philippines, landed in fourth and fifth, respectively.

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