ONLINE 2021 STOCKHOLDERS’ MEETING

Rang-ay Bank held its Annual Stockholders’ Meeting via videoconference last April 25, 2021. The yearly meeting of the bank’s shareholders allows management to report the company’s business operations for fiscal year of 2020 and to elect the Board of Directors.

Despite the pandemic, the bank continued lending to the agricultural sector. 34.7% of the bank’s loanable funds were extended to agricultural projects and farmers. The bank once again accredited as a Rural Financial Institution (RFI) by the Bangko Sentral ng Pilipinas. Likewise, the bank continues to support local businesses by lending to micro, Small and Medium enterprises (mSMEs). In support of its borrowers, the bank implemented the “Bayanihan to Heal as One” (BAHO) Act and “Bayanihan to Recover as One (BARO) Act” providing penalty-free extensions to all qualified borrowers.

2020 also marked the opening of the bank’s 30th Branch in the G/F of Aringay Public Market in San Benito Sur, Aringay, La Union. The year also saw the deployment of five (5) additional ATM units from DBP and EnCash totaling to 10 units. The bank became a full member of the Philippine Electronic Fund Transfer & System Operations Network (PESONET) making bank-to-bank transfers easier and SSS benefits more accessible.

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 despite the unforeseen challenges brought about by the pandemic. He also thanked the local communities it serves for their continued trust and support of their local bank.