BSP RENEWS RFI ACCREDITATION
The Bangko Sentral ng Pilipinas (BSP) updated the list of Accredited Rural Financial Institutions (RFIs) in a Circular-Letter issued by BSP Deputy Governor Fonacier dated February 26, 2020. Ten (10) banks are accredited for the purpose of implementing the Agri-Agra Reform Credit Act of 2009 (RA 10000).
BSP’s list of banks approved as RFIs have been listed since 2012 and serves as a guide to inform the public of which banks to approach for agri-agra credit compliance.
RA 10000 aims to provide agriculture, fisheries and agrarian reform credit to credit to improve the productivity of the agriculture and fisheries sectors. The Act consider loans to support activities and projects pertaining to agriculture as stipulated under the Agriculture and Fisheries Modernization Act (AFMA) and the Agrarian Reform Code of the Philippines. Among the accredited rural banks, Rang-ay Bank is the only bank based in Region I and CAR that finances Agri-Businesses such as rice-millers, vegetable haulers, contract growers, warehousers, agri-suppliers and bamboo growers all over the region. The bank provides collateral-free farmers loan to small-scale cultivators, farmers, tenants or lease holders that covers backyard or cottage poultry projects and livestock raisers. Together with the Philippine Crop Insurance Corporation (PCIC), the bank is able to provide additional capital for agricultural projects such as livestock and fishery projects, planting of rice, corn and vegetables and other food crops raisers.
PROPERTIES FOR SALE
Find your dream property here at Rang-ay Bank. You can surely find one that fits your budget. We have available properties in Ilocos Norte, Ilocos Sur, Abra, La Union, Baguio and Pangasinan. And to ease the financial burden in home ownership, these properties are offered on installment.
For a full listing please visit www.rangaybank.com/for-sale-real-estate. For more details you may also contact the VP Nina Francisca Palabay or Remedial Management Officer Donnalyn Sandaga at tel no. (072) 242-5661 to 63 or 0917 329 4802 (Globe) or 0946 329 8723 (Smart). You may also email us at nftpalabay@rangaybank.com or rmu@rangaybank.com. You may likewise course your queries to our facebook page at facebook.com/rangaybank.
DISCLAIMER: Valuation of Properties are subject to general economic conditions and setting. Therefore, prevailing Selling Price is not restrictive, conclusive and obligatory upon the management. Prices may be changed at any time without further notice. Any Bid presented and accepted for processing is still subject to the final approval of the Board of Directors of Rang-ay Bank
BAYANIHAN TO HEAL AS ONE ACT
In compliance with the Republic Act No. 11469 otherwise known as “Bayanihan to Heal as One Act”, the bank grants a grace period for all loans that fell due or with amortization/s falling due during the Community Quarantine (ECQ & MECQ) period: March 17, 2020 to May 31, 2020; are granted a grace period. For questions & inquiries you may visit your servicing branch or message us at facebook at facebook.com/rangaybank.
ROLL-OUT OF ATMs TO BRANCHES
Automated Teller Machines (ATMs) are now available in five (5) branches of Rang-ay Bank. ATMs are important key touch-points for financial inclusion, making funds available 24 hours a day & 7 days a week (24/7).
The bank partnered with the Development Bank of the Philippines (DBP) for the first three (3) ATMs in Bangar (La Union), Bacnotan (La Union) and Sta. Lucia (Ilocos Sur) branches. To have more ATMs available for the people in the region, the bank teamed-up with EnCash, the first independent ATM Deployer in the Philippines, ENCASH to provide ATMs to areas not deemed viable by commercial banks, allowing users in remote locations to conveniently obtain access to their finances. The first two (2) are in Luna (La Union) Branch and Sta. Cruz (Ilocos Sur) Branch.
ATMs installation will soon be rolled out to more Rang-ay Bank branches. Six more are slated for the year, including in San Fernando City (La Union), Balaoan (La Union), Agoo (La Union), Dingras (Ilocos Norte) and Bangued (Abra).
RANG-AY UPGRADES CORE BANKING SYSTEM
Rang-ay Bank continues to improve its systems to ensure globally competitive banking services for its clients. With the new core banking system (CBS), clients will easily transact inter-branch withdrawal and deposit transactions in all its 29 branches throughout the region. This upgrade will also allow the bank to connect to ATM networks and internet and mobile phone banking as next steps by early next year.
Nextbank software is a Core Banking System package which offers all the systems necessary to maintain client deposit accounts, term deposits, microfinance and secured loans, and to automate accounting, internal and regulatory reporting via web and mobile apps. The system is hosted in Amazon Cloud. It is fully compliant with the latest policies and regulations of the Bangko Sentral ng Pilipinas (BSP) and Southeast asian central banks.
Upon implementation of the new banking system, there will be a change in client’s deposit account number and bank statement format. For inquiries or clarifications, please call us at (072) 242-5661 to 63 or email us at treasury@rangaybank.com. You may also visit your nearest RANG-AY BANK branch for the complete details.
