Cantilan Bank Celebrates 30 Years of Progressive and Excellent Community Banking Services
18 June 2010By: Eric Miller, guest blogger
More than 500 attendees packed into a basketball gymnasium in Cantilan’s town square to celebrate the 30th anniversary of Cantilan Bank. The gala highlighted the banks remarkable growth over the past three decades and underscored the important role microfinance services played in their success.
MABS started working with Cantilan Bank 11 years ago, when it had just three branches and 35 employees. Now, the bank is 260 employees strong with 12 branches across Surigao. The bank-wide loan portfolio grew from around P50M to P652M. The number of microfinance borrowers is 39% of Cantilan’s total borrowers with a client base of over 8,400 hard-working microentrepreneurs, small farmers, and store owners. The number of deposit accounts is 58,522 with P524M in deposits. More importantly, there are 3 depositors to every borrower, and voluntary savings by micro-depositors comprise 50% of total microloans outstanding. Indeed, the bank has grown drastically by continuously evolving to better serve their clients.
U.S. Ambassador Harry K. Thomas, Jr. supports rural bankers’ advocacy for Greater Financial Inclusion
1 June 2010
In his keynote speech at the 57th National Convention of Rural Bankers Association of the Philippines (RBAP), U.S. Ambassador Harry K. Thomas, Jr expressed his support for greater access to financial capital and social safety nets for all Filipinos.
The U.S. government has assisted the RBAP for more than ten years through the Microenterprise Access to Banking Services (MABS) Program that expands access to financial services to micro-entrepreneurs and low-income households by supporting rural banks’ capacity to provide services to the microenterprise sector. MABS partner banks have been able to provide over 2.2 million micro loans with a total of more than PhP29 billion for micro-borrowers numbering over 700,000.
The Ambassador cited that the project has relieved families from poverty and ignited Filipino entrepreneurial spirit.
Ambassador Thomas also stressed that the rural banks’ move to provide micro-insurance products and services to low-income households and to rural entrepreneurs of the Philippines are good examples of interlinked corporate success and social welfare. He urged the bankers to continue making the low-income sectors’ dreams a reality, quoting U.S. President Barack Obama’s words: “Real change comes from the bottom up.”
MABS participating rural bankers present at Women’s World Banking Headquarters
14 April 2010
From left: Rural Bank of Pagbilao President Senen Glorioso, WWB Relationship Manager for Asia Gil Lacson, and RBRDFI Chairman and GM Bank President Tomas Gomez IV.
GM Bank President and Chairman of the Rural Bankers Research and Development Foundation Inc. (RBRDFI) Tomas Gomez IV and Rural Bank of Pagbilao President Senen Glorioso shared the experiences of rural banks engaged in microfinance and their experiences with the RBAP-MABS program at the International Headquarters of Women’s World Banking (WWB) in New York City on April 13.
WWB Relationship Manager Gil Lacson gave a thorough presentation about WWB, including their views on the commercialization of microfinance services and an overview of the WWB network. He also shared WWB’s interest in South East Asia, specifically the Philippines.
MIX launches its new MIX Market this June
8 June 2009Dear Microfinance Colleague,
Over the last year, MIX has been working on redeveloping MIX Market, focusing on improving your user experience and increasing platform stability and flexibility. We are pleased to announce that we are on schedule to launch the new MIX Market in mid-June 2009! Read the rest of this entry »
GM Bank’s new corporate headquarters inaugural
1 March 2009
MABS PB GM Bank Inc. held the blessing and inaugural of its new corporate headquarters on February 27. The bank moved its corporate office from a 2-story building in the interior municipality of Munoz, Nueva Ecija to Cabanatuan City, which is a more strategic location, being the melting pot and most progressive city in Nueva Ecija. Read the rest of this entry »
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