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”.
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).
