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BSP closes rural bank in Southern Leyte

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Bangko Sentral ng Pilipinas (BSP). RYAN LEAGOGO/INQUIRER.net FILE PHOTO

Monetary authorities have shut down a rural bank in Southern Leyte and placed it under Philippine Deposit Insurance Corp. (PDIC) receivership.

Posted: September 18th, 2014 in Latest Business Stories | Read More »

Rural banks feeling heat of competition

PHILIPPINES-FINANCE-BANKING-CRIME

The entry of large banks into the Philippine countryside, the traditional stronghold of rural banks, poses a threat to the health of smaller financial institutions, most of which have difficulty finding the wherewithal or talent to offer better services.

Posted: July 3rd, 2014 in Latest Business Stories | Read More »

More mergers in rural banking sector seen

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Depositors are greeted by an iron grill gate and a notice announcing the closure of Rural Bank of San Fernando in San Fernando town, Cebu province. The Bangko Sentral ng Pilipinas expects more mergers in the rural banking sector as industry players take advantage of regulatory incentives, allowing them to time their moves to gain greater economies of scale.  TONEE DESPOJO/CEBU DAILY NEWS

The Bangko Sentral ng Pilipinas (BSP) expects more mergers in the rural banking sector as industry players take advantage of regulatory incentives, allowing them to time their moves to gain greater economies of scale.

Posted: April 7th, 2014 in Featured Gallery,Latest Business Stories,Photos & Videos | Read More »

Bo’s millionaire maids, rural banks and the innovation question

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Q: We are a group of business friends who own rural banks in northern Luzon. We heard you (the Senior MRx-er) speak at our RBAP-MABS conference two years ago. (RBAP is Rural Bank Association of the Philippines. MABS is a USAID-supported Microenterprise Access to Banking Services program.) We liked reading your column especially when you wrote about how the banking sector has been a largely unrecognized source of life-changing innovations like the ATM, the credit card, etc.

Posted: February 6th, 2014 in Columnists,Inquirer Columns,Inquirer Features | Read More »

BSP: Small banks may now sell financial products

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Rural and thrift banks are now allowed to sell financial products such as insurance plans and credit cards of their sister firms, according to the central bank.

Posted: July 5th, 2013 in Headlines | Read More »

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