Microfinance deposit ceiling raised
By Julito G. Rada | Posted on Apr. 23, 2013 at 12:00am | 212 views
The Bangko Sentral raised the ceiling on microfinance deposits to give
local banks flexibility to serve low-income earners in the country.
"We increased the ceiling on microfinance deposits from P15,000 to
P40,000… The move is related to [efforts to achieve] financial
inclusion. The move gives MBOs [micro banking offices] greater
flexibility to service the deposit transaction requirements of
low-income earners," Bangko Sentral Deputy Governor Nestor Espenilla Jr.
told reporters.
"Micro deposits can be transacted in MBOs [micro banking offices].
People are saving more and they want to deal with MBOs, which are
accessible to them," he said, adding that many rural and thrift banks
have MBOs.
The regulator earlier allowed rural and thrift banks to establish MBOs
in cities and municipalities where microfinance-oriented banking
services are unavailable.
--
-----------------------------------------------------------
CARLOS ANI - Consultant
Chairman of the Board - SEEDFINANCE Corporation
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63908-1737072 (Smart)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
----------------------------------------------------------
Wednesday, April 24, 2013
Wednesday, April 3, 2013
AUB eyes another rural bank
AUB eyes another rural bank
FAST-EXPANDING Asia United Bank (AUB), the banking arm of the Rebisco
group, is eyeing a rural bank in Northern Luzon that it will merge with
one of its subsidiaries, its top official said.
"AUB is conducting its due diligence right now on one rural bank located
in Northern Luzon," AUB President Abraham T. Co said in a recent interview.
He, however, refused to identify the rural bank, saying there are still
"issues" being resolved and AUB "is still studying the acquisition."
The bank chief said the rural bank is "big" in terms of assets and will
allow AUB to "grow its presence" in Northern Luzon.
Mr. Co said the assets of the rural bank, should AUB pursue with the
acquisition, will "likely be merged with the Rural Bank of Angeles."
The Rural Bank of Angeles, located in Angeles City, Pampanga, was
acquired by AUB in July 2009 allowing the universal bank to extend its
reach outside Metro Manila. The Rural Bank of Angeles has five branches
and other banking offices in Pampanga and Tarlac, according to the
bank's 2010 annual report.
AUB has been buying other banks as part of its expansion plans. Last
year, it acquired the banking assets and assumed the liabilities of
Asiatrust Development Bank, Inc. The year before, the bank purchased the
Cooperative Bank of Cavite.
AUB is in the process of preparing for its initial public offering
(IPO), which it hopes will raise some P11.31 billion.
Funds raised from the IPO will be used to strengthen the bank's capital
base, bankroll its expansion plans (which include the acquisition of new
branch licenses and the expansion of its branch network), and for
improvement in information technology system and general banking operations.
The bank currently has 107 branches nationwide and plans to add 45 more
this year.
Net profits of AUB rose by 19% to P1.36 billion last year. -- Ann
Rozainne R. Gregorio
--
-----------------------------------------------------------
CARLOS ANI - Consultant
Chairman of the Board - SEEDFINANCE Corporation
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63908-1737072 (Smart)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
----------------------------------------------------------
FAST-EXPANDING Asia United Bank (AUB), the banking arm of the Rebisco
group, is eyeing a rural bank in Northern Luzon that it will merge with
one of its subsidiaries, its top official said.
"AUB is conducting its due diligence right now on one rural bank located
in Northern Luzon," AUB President Abraham T. Co said in a recent interview.
He, however, refused to identify the rural bank, saying there are still
"issues" being resolved and AUB "is still studying the acquisition."
The bank chief said the rural bank is "big" in terms of assets and will
allow AUB to "grow its presence" in Northern Luzon.
Mr. Co said the assets of the rural bank, should AUB pursue with the
acquisition, will "likely be merged with the Rural Bank of Angeles."
The Rural Bank of Angeles, located in Angeles City, Pampanga, was
acquired by AUB in July 2009 allowing the universal bank to extend its
reach outside Metro Manila. The Rural Bank of Angeles has five branches
and other banking offices in Pampanga and Tarlac, according to the
bank's 2010 annual report.
AUB has been buying other banks as part of its expansion plans. Last
year, it acquired the banking assets and assumed the liabilities of
Asiatrust Development Bank, Inc. The year before, the bank purchased the
Cooperative Bank of Cavite.
AUB is in the process of preparing for its initial public offering
(IPO), which it hopes will raise some P11.31 billion.
Funds raised from the IPO will be used to strengthen the bank's capital
base, bankroll its expansion plans (which include the acquisition of new
branch licenses and the expansion of its branch network), and for
improvement in information technology system and general banking operations.
The bank currently has 107 branches nationwide and plans to add 45 more
this year.
Net profits of AUB rose by 19% to P1.36 billion last year. -- Ann
Rozainne R. Gregorio
--
-----------------------------------------------------------
CARLOS ANI - Consultant
Chairman of the Board - SEEDFINANCE Corporation
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63908-1737072 (Smart)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
----------------------------------------------------------
Tuesday, April 2, 2013
200 banks join microfinance bandwagon
200 banks join microfinance bandwagon
By Ted Torres (The Philippine Star) | Updated April 2, 2013 - 12:00am
MANILA, Philippines - There are 200 banks and another 2,000 microfinance
institutions (MFIs) in the Philippines servicing at least seven million
microfinance clients, based on a study released recently by the Asian
Development Bank (ADB).
The study reported that majority of the commercial banks catered
indirectly to the microfinance sectors-- through their socially-oriented
foundations -- by providing wholesale funds to private institutions
engaged in retail microfinance services.
"Some commercial banks, however, opted to establish their own rural or
thrift banks that are wholly engaged in microfinance operations," it added.
The Bank of the Philippine Islands (BPI) for example established BPI
Globe BanKO, a thrift bank utilizing mobile phone technology to extend
microfinance.
The Rizal Commercial Banking Corp. (RCBC) operated its own microfinance
oriented thrift bank, the Rizal Microbank.
While East West Banking Corp. acquired a Mindanao-based rural bank to
establish a microfinance platform.
The ADB reported that the Philippines is considered one of the countries
in Asia with a relatively developed microfinance industry that provides
financial services to the low-income sector.
The Economist Intelligence Unit (EIU) recognized the Philippines as one
of the countries in Asia with "very strong regulatory regimes and good
prospects for MFIs to enter the sector and perform effectively" for
three consecutive years (2009-2011). In 2010-2011, the country was
adjudged as having the best microfinance regulatory framework among 54
countries.
But the report said that the challenges remain enormous.
The National Statistical Coordination Board (NSCB) reported that poverty
incidence in the Philippines remains one of the highest, next to
Cambodia with 30.1 percent and Lao People's Democratic Republic with
27.6 percent in 2010.
The poor still do not have access to various types of financial services.
The 2011 World Bank report on the finance sector reported that only
about 30 percent of Filipinos used formal financial services (lower than
the East Asia average).
It said that while branches of formal financial institutions have been
increasing, access to and use of financial services have remained
limited for poorer and more rural areas.
This was further substantiated by an NSCB report that among the basic
sectors, fisherfolk had the highest poverty incidence at 41.4 percent in
2009 followed by farmers at 35.7 percent.
"One of the perceived barriers is the lack of or inadequate access to
financial services of the poor, which has been mostly limited by
geographic distance, high cost of services, inappropriate products, and
stringent and tedious documentary requirements," the ADB report added.
More attention must be given to the financial literacy of the poor,
consumer protection, and accountability to customers to ensure sound
microfinance practices and that the poor have access to safe financial
services.
--
-----------------------------------------------------------
CARLOS ANI - Consultant
Chairman of the Board - SEEDFINANCE Corporation
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63908-1737072 (Smart)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
----------------------------------------------------------
By Ted Torres (The Philippine Star) | Updated April 2, 2013 - 12:00am
MANILA, Philippines - There are 200 banks and another 2,000 microfinance
institutions (MFIs) in the Philippines servicing at least seven million
microfinance clients, based on a study released recently by the Asian
Development Bank (ADB).
The study reported that majority of the commercial banks catered
indirectly to the microfinance sectors-- through their socially-oriented
foundations -- by providing wholesale funds to private institutions
engaged in retail microfinance services.
"Some commercial banks, however, opted to establish their own rural or
thrift banks that are wholly engaged in microfinance operations," it added.
The Bank of the Philippine Islands (BPI) for example established BPI
Globe BanKO, a thrift bank utilizing mobile phone technology to extend
microfinance.
The Rizal Commercial Banking Corp. (RCBC) operated its own microfinance
oriented thrift bank, the Rizal Microbank.
While East West Banking Corp. acquired a Mindanao-based rural bank to
establish a microfinance platform.
The ADB reported that the Philippines is considered one of the countries
in Asia with a relatively developed microfinance industry that provides
financial services to the low-income sector.
The Economist Intelligence Unit (EIU) recognized the Philippines as one
of the countries in Asia with "very strong regulatory regimes and good
prospects for MFIs to enter the sector and perform effectively" for
three consecutive years (2009-2011). In 2010-2011, the country was
adjudged as having the best microfinance regulatory framework among 54
countries.
But the report said that the challenges remain enormous.
The National Statistical Coordination Board (NSCB) reported that poverty
incidence in the Philippines remains one of the highest, next to
Cambodia with 30.1 percent and Lao People's Democratic Republic with
27.6 percent in 2010.
The poor still do not have access to various types of financial services.
The 2011 World Bank report on the finance sector reported that only
about 30 percent of Filipinos used formal financial services (lower than
the East Asia average).
It said that while branches of formal financial institutions have been
increasing, access to and use of financial services have remained
limited for poorer and more rural areas.
This was further substantiated by an NSCB report that among the basic
sectors, fisherfolk had the highest poverty incidence at 41.4 percent in
2009 followed by farmers at 35.7 percent.
"One of the perceived barriers is the lack of or inadequate access to
financial services of the poor, which has been mostly limited by
geographic distance, high cost of services, inappropriate products, and
stringent and tedious documentary requirements," the ADB report added.
More attention must be given to the financial literacy of the poor,
consumer protection, and accountability to customers to ensure sound
microfinance practices and that the poor have access to safe financial
services.
--
-----------------------------------------------------------
CARLOS ANI - Consultant
Chairman of the Board - SEEDFINANCE Corporation
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63908-1737072 (Smart)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
----------------------------------------------------------
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