Question 1

What is Rural Bank of Cabatuan (Iloilo), Inc.?

Accepted Answer

Rural Bank of Cabatuan (Iloilo), Inc. is a rural banking institution located in the municipality of Cabatuan in the province of Iloilo, Philippines. As a rural bank, it operates under the regulatory supervision of the Bangko Sentral ng Pilipinas (BSP), the country's central bank.

The bank serves the financial needs of the local community in Cabatuan and surrounding areas, focusing on providing accessible banking services to rural populations. Rural banks in the Philippines are specifically mandated to support countryside development by offering credit facilities to farmers, fisherfolk, merchants, and small business enterprises in rural communities.

Question 2

When was Rural Bank of Cabatuan (Iloilo), Inc. founded?

Accepted Answer

[Information not publicly available]

While the exact founding date of Rural Bank of Cabatuan (Iloilo), Inc. is not publicly documented, the bank operates under the framework established by Republic Act No. 7353, also known as the New Rural Banks Act of 1992, which governs the creation and operation of rural banks in the Philippines. This legislation updated the original Rural Banks Act of 1952 (Republic Act No. 720), which first established the rural banking system in the Philippines to promote rural economic development after World War II.

Question 3

Where is Rural Bank of Cabatuan (Iloilo), Inc. headquartered?

Accepted Answer

Rural Bank of Cabatuan (Iloilo), Inc. is headquartered in the municipality of Cabatuan, Iloilo province. The bank's head office is located at Magallon Street corner Rizal Ilawod Street, Zone I Poblacion (Barangay 1), Cabatuan, Iloilo.

Cabatuan is situated in Western Visayas (Region VI), approximately 24 kilometers northwest of Iloilo City. The municipality is located at the heart of Panay Island and is notable for being the site of the Iloilo International Airport.

Question 4

Where does Rural Bank of Cabatuan (Iloilo), Inc. operate?

Accepted Answer

Rural Bank of Cabatuan (Iloilo), Inc. primarily serves the municipality of Cabatuan and the surrounding areas in Iloilo province. Cabatuan is a predominantly agricultural municipality with 68 barangays, bordered by the towns of Janiuay to the north, Maasin to the east, Santa Barbara and New Lucena to the northwest, and Alimodian and San Miguel to the south.

The bank's service area includes rural communities engaged in agriculture, with local economies centered on rice, corn, sugar cane, coffee, and various crops. The region also supports livestock, poultry farming, and small-scale commercial activities.

Question 5

What services does Rural Bank of Cabatuan (Iloilo), Inc. offer?

Accepted Answer

As a rural bank operating under Philippine banking regulations, Rural Bank of Cabatuan (Iloilo), Inc. is authorized to provide a range of financial services tailored to rural communities, including:

Deposit Services: Savings accounts, time deposits, and current/checking accounts for individuals and small businesses.

Lending Services: Agricultural loans for farmers and fisherfolk, microfinance loans for small merchants and cooperatives, and credit facilities for small business enterprises. Rural banks are mandated to give preference to loan applications from farmers and merchants with small cash requirements.

Other Banking Services: The bank may also provide services such as money transfers, bill payments, and other basic banking transactions that serve the financial needs of rural communities.

Question 6

What makes Rural Bank of Cabatuan (Iloilo), Inc. unique?

Accepted Answer

Rural Bank of Cabatuan (Iloilo), Inc. operates in a strategically important municipality that serves as a gateway to Iloilo province, being the location of the Iloilo International Airport. This positions the bank to serve both traditional rural communities and an increasingly connected population.

The bank serves a predominantly agricultural area where 71% of the land (8,251.18 hectares) is dedicated to agricultural production. This agricultural focus allows the bank to specialize in understanding and meeting the unique financial needs of farming families, cooperatives, and rural entrepreneurs who form the backbone of the local economy.

As a community-based rural bank, the institution is deeply embedded in the local economy of Cabatuan, understanding the seasonal cycles, challenges, and opportunities that affect farmers, fishermen, and small business owners in the area.

Question 7

What type of financial institution is Rural Bank of Cabatuan (Iloilo), Inc.?

Accepted Answer

Rural Bank of Cabatuan (Iloilo), Inc. is classified as a rural bank, a specific category of financial institution in the Philippine banking system. Rural banks in the Philippines are private stock corporations that operate under special legislation (Republic Act No. 7353) with a distinct mandate to promote rural economic development.

Rural banks are supervised by the Bangko Sentral ng Pilipinas and are members of the Philippine Deposit Insurance Corporation (PDIC), which insures eligible deposits. They are also typically affiliated with the Rural Bankers Association of the Philippines (RBAP), the national organization representing rural banking institutions.

Unlike universal or commercial banks that focus on urban markets and large-scale corporate banking, rural banks are specifically designed to provide accessible, affordable credit and banking services to underserved rural populations, with a particular emphasis on supporting agricultural development and small-scale entrepreneurship.

Rural Bank of Cabatuan (Iloilo), Inc.

in the Philippines 🇵🇭

Crypto-Friendliness

All done!

About Rural Bank of Cabatuan (Iloilo), Inc. in the Philippines