STOCKHOLDERS’ MEETING 2023

Rang-ay Bank held its Annual Stockholders’ Meeting at the bank’s Head Office in the City of San Fernando, La Union last May 6, 2023. The yearly meeting of the bank’s shareholders allows management to report the company’s business  operations for the calendar year 2022 and to elect the Board of Directors. 

In 2022, on its 66 Years of Countryside Banking, Rang-ay continued to  perform banking services and extend loans despite the ongoing pandemic. 27.53% of the bank’s loanable funds were released to agricultural projects, agri-business and farmers. The bank was once again accredited as a Rural Financial Institution  (RFI) by the Bangko Sentral ng Pilipinas during this period. Likewise, the bank continues to support local businesses by lending to micro, Small and Medium                     enterprises including agri-businesses, construction; real estate, wholesale and retail trade among others. The bank again exceeds the minimum lending requirements set by the Magna Carta for mSMES. Rang-ay Bank also joined Provincial Government of La Union (PGLU) in empowering the micro, Small and Medium Enterprises (mSMEs) to enhance the business climate and promote the spirit of La Union Probinsyanihan. The bank likewise grew its deposits with an increase in its 30 banking offices with deposits reaching more than record levels by the end of 2022. Thru PESONET the bank added a  new  service to depositors to able them to send and receive banking transactions within the banking day. This feature enhances the depossitor experience as it allows fast crediting of funds to the recipient’s account without amount limit whether it be a commercial bank, thrift bank or a rural bank account. 

Other highlights of 2022 include the inauguration of the newly renovated Tubao (La Union) Branch last September 6, 2022. Rang-ay Bank and Land Bank of the Philippines strengthened their partnership with the renewal signing of a Rediscounting Line Agreement. The bank was also given an award by PERAHUB as the Top 2 Remittance Partner with Most Number of Western Union Transactions in the Regional Category. The bank also conducted 16 Financial Literacy programs to the local communitues as part of the bank’s Coporate Social Responsibility (CSR). 93 trainings & seminars were provided for all the bankers were undertaken as part of the bank’s commitment to develop local talents.

The meeting of the bank’s shareholders saw the re-election of the incumbent seven (7) Directors – Ives Nisce, Leticia Asenci, Mario Galvez, Flora Ignacio, Ivy Rose Martinez, Ives Jesus Nisce II and Jose Osias. Chairman Nisce acknowledged the bank’s officers and staff for their hard work and dedication as Rang-ay Bank maintained its position as the No. 1 bank in its class in the Ilocos and Cordillera Regions despite the challenges brought about by the pandemic and rapid ecnomic inflation. He also thanked the steadfast support of directors, stockholders and the local communities in Region 1 and CAR for their continued trust and support of their local bank.