The Power of Savings – Rural Miners Open their First Savings Accounts

From Butuan City going north towards Surigao Norte is the town of Tubod, where mining has become a major source of employment to local residents and those in the outlying towns. Hired by labor sub-contractors of the mining company there, the number of miner-laborers peaks during the dry season and declines during the rainy season. The mining site is about five kilometers away from the Cantilan Bank Tubod Branch, which started its operations in 2005.

As is the practice in the mining industry, mining companies operating in Surigao del Norte and Surigao del Sur outsource their labor requirements to sub-contractors. …

Cantilan Bank Celebrates 30 Years of Progressive and Excellent Community Banking Services

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 …