Rang-ay Bank held its Annual Stockholders' Meeting at the bank's Head Office in San Fernando City, La Union on April 29, 2018.
President & CEO Ives Nisce acknowledged the bank's officers and staff for their hardwork and dedication to maintain its status as the biggest bank in its class in the Ilocos and Cordillera Regions with twenty nine (29) banking offices. Rang-ay Bank’s total resources increased by double digits year-on-year. The bank's loan portfolio jumped by 26%, showing the bank's continued strong lending to the countryside.
In his annual report, Chairman Nisce also presented the bank's highlights for the year 2017. One is the BSP's renewal of the bank's authority as accredited Rural Financial Institution (RFI) for Agri-Agra Compliance. Other accomplishments are the opening of two new banking offices in Bangui Branch (I.N.) and Sinait Branch (I.S.), robust expansion in lending and engaging local communities through Corporate Social Responsibility projects.
The bank offers regular and special deposit accounts, time deposits, demand deposits and Kiddie savers deposit accounts to its clientele. The hard work and dedication of Rang-ay bankers under the leadership of its officers, contributed to the bank’s continued growth. The bank’s growing loan portfolio is a concrete manifestation of the bank’s fulfillment of its mission to make credit readily accessible to the countryside. Loans extended to borrowers show lending to agriculture and SME still a large part of Bank's loan porforlio.
The success marked by Rang-ay Bank is due to the sustained support and consistent efforts of its stockholders, directors, officers and staff in pursuing the vision of the bank's pioneering founders. In the coming years, the bank aspires to accelerate financial inclusion by providing accesible and affordable banking services to the unbanked and underbanked sectors of our society, thus helping achieve a more equitable development in the countryside.