Luzon and Visayas Banks Join RBAP Microfinance Program
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March 2001, Manila – Eight new rural and cooperative banks in Luzon and Visayas signed their participating bank agreements with the Rural Bankers Association of the Philippines' Microenterprise Access to Banking Services (RBAP-MABS) Program. This is part of RBAP’s expansion of the MABS Approach in Luzon and Visayas.
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Newly signed-up banks in Luzon include the Rang-Ay Rural Bank in La Union, Rural Bank of Florida in Pampanga, First Isabela Cooperative Bank in Isabela, First Macro Bank in Pateros, and Bangko Kabayan in Batangas. In the Visayas, the New Rural Bank of Victorias in Negros Occidental, Rural Bank of Bogo in Cebu City, and Rural Bank of Dulag in Leyte also signed up.
The banks’ senior managers were taught how to design and implement a profitable microfinance department, utilizing the systematic MABS Approach to introducing new microfinance services. After an initial institutional assessment, the senior managers of the new participating banks visited a successful RBAP-MABS participant bank to understand the MABS Approach – from the initial orientation to setting up of a microfinance unit, market research, to pilot testing of the bank’s product, and product review to scaling up of operations.
A separate training for the banks’ microfinance staff was also conducted. The training covered basic microfinance concepts, direct observation and actual application of a successful participant bank’s lending systems and procedures, market survey and business planning, and action planning.
Each partner bank worked closely with RBAP-MABS technical staff in developing a comprehensive product manual and a business plan that will guide them in building a profitable and sustainable microfinance operation.
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