2020 STOCKHOLDERS MEETING

Rang-ay Bank held its Annual Stockholders’ Meeting via Teleconference last 21 June 2020. The annual meeting of the bank’s shareholders is conducted to report the company’s business operations for fiscal year of 2019 and to elect the Board of Directors. This is the first time in the bank’s 64 years that the annual meeting was conducted via teleconference.

In his 2019 Annual Report, Chairman Ives Nisce presented the bank’s highlights. In line with the bank’s Mission to hasten progress in the community, the chairman once again announced that the bank continues to meet its lending targets to Agricultural and Agrarian beneficiary borrowers. For the 2019, the total loans extended to the Agricultural sector was 38% of its available loanable funds, more than the required 25% set by law. This has led to the bank to be once again being accredited by the Bangko Sentral ng Pilipinas as a Rural Financial Institution. Likewise, the bank continues to support local business by lending to micro, Small and Medium enterprises including Agri-businesses all over Region I and CAR. The bank again exceeds the minimum lending requirements set by the Magna Carta for mSMES which is 10%. The Chairman also reported the continued growth in deposits as people of the region continue to put their trust in Rang-ay.

Other highlights for 2019 were the migration to Nextbank Software, a cloud-based banking system provided by NXTBK, Inc.; deployment of Automated Teller Machines (ATMs) and the renewal of the bank’s partnership with the Development Bank of the Philippines (DBP) and Landbank of the Philippines (LBP). The bank has been a partner of LBP for twenty-five (25) years. The bank also expanded its Head Office premises with the purchase of the building’s entire 4th floor and relocated its Rosales (Pangasinan) Branch to Gen. Luna St., Brgy Zone III, Rosales, Pangasinan. All of these, as it continued to support local schools, senior citizen associations, farmers groups, and business organizations through community projects.

Chairman Nisce acknowledged the bank’s officers and staff for their hard work and dedication to maintain its status as the biggest bank in its class in the Ilocos and Cordillera Regions with a wide network of twenty nine (29) banking offices. He also thanked the local communities it serves for their continued trust and support of their local bank. He reiterated the bank’s Vision & Mission to empower North Luzon with globally competitive banking services and to hasten progress in the communities of the Ilocos Region and the Cordillera through accessible and affordable banking services. “Asenso mo, Tagumpay ng Rang-ay”.