Rang-ay Bank and the Landbank of the Philippines again strengthened their many years of partnership with the renewal signing of a Rediscounting Line Agreement. Representing Rang-ay Bank were Vice President for Operations Ives Jesus Nisce II, Chief Compliance Officer Flora Ignacio, and Credit Management Officer Kaye Ann Culbengan. The government bank was represented by the Assistant Vice President Victoria Zambrano and Account Officer Susan De Vera of La Union Ilocos Lending Center (LUILC). The signing ceremony was held at the Rang-ay’s Main Office in San Fernando City, La Union last June 28, 2017.
The LBP Credit Line to the bank included a Rediscounting Line, Term Loan Rediscounting Line, Domestic Bills Purchase Line, and Standby Clearing Line. The purpose of Rediscounting Line and Term Loan Rediscounting is to augment the bank's ability to extend more loans to more borrowers for longer terms. Domestic Bills Purchase Line and the Standby Clearing Line are lines to better service checking account holders and depositors.
Rang-ay's continued partnership with Landbank is one way that the bank ensures better credit programs to farmers and fisher folks, salaried workers, OFWs, home owners, real estate developers, micro small and medium entrepreneurs all over the region. Rang-ay Housing and Pabahay Loan clients are afforded the best rates and longer terms.