Question 1

What is Rural Bank of Hindang (Leyte), Inc.?

Accepted Answer

Rural Bank of Hindang (Leyte), Inc. is a community-based rural bank operating in the Eastern Visayas region of the Philippines. Established to serve the financial needs of farmers, fishermen, merchants, and cooperatives in rural areas, the bank has grown from a single-unit operation to a multi-branch institution serving several municipalities across Leyte and Southern Leyte provinces.

As a rural bank regulated by the Bangko Sentral ng Pilipinas (BSP), the institution specializes in providing accessible credit facilities and banking services to underserved communities in the countryside. The bank is a member of the Rural Bankers Association of the Philippines (RBAP).

Question 2

When was Rural Bank of Hindang (Leyte), Inc. founded?

Accepted Answer

Rural Bank of Hindang (Leyte), Inc. was officially incorporated on June 25, 1978 under SEC Registration No. 80421. The Central Bank of the Philippines granted the bank its Certificate of Authority to accept deposits on August 11, 1978.

Full banking operations commenced on August 14, 1978. The bank was founded by Dr. Soriano V. Abrasaldo, Mrs. Expectacion V. Mata, Mrs. Ceferina A. Dayola, Mrs. Raymunda Delalamon, Mrs. Lourdes Padin, and Atty. Herminio Villaflor.

The founding team established the institution to address the significant credit gap in rural Leyte, providing an alternative to informal moneylenders and making financial services accessible to small-scale farmers and merchants in the region.

Question 3

Where is Rural Bank of Hindang (Leyte), Inc. headquartered?

Accepted Answer

The bank's head office is located at Rizal Street, Poblacion 1, Hindang, Leyte, Philippines. Hindang is a municipality in the province of Leyte in the Eastern Visayas region.

The head office serves as the primary administrative and operational center for the bank's network of branches and extension offices throughout the region.

Question 4

Where does Rural Bank of Hindang (Leyte), Inc. operate?

Accepted Answer

Rural Bank of Hindang (Leyte), Inc. operates across multiple municipalities in Leyte and Southern Leyte provinces. The bank maintains a head office in Hindang, Leyte, and operates branches in Inopacan, Leyte (opened 1997), Sogod, Southern Leyte (opened 1998), and Bato, Leyte (opened 2008).

Additionally, the bank operates branch-lite extension offices in Hilongos, Leyte (opened 2010) and Baybay City, Leyte (opened 2015). This network enables the institution to serve neighboring rural communities throughout the Eastern Visayas region.

The geographic distribution of branches reflects the bank's commitment to expanding financial inclusion in areas where larger commercial banks have limited presence.

Question 5

What services does Rural Bank of Hindang (Leyte), Inc. offer?

Accepted Answer

Rural Bank of Hindang (Leyte), Inc. provides a comprehensive range of financial services tailored to rural communities. Core banking services include regular savings deposits, special savings deposits, time deposits, and basic savings deposits designed for microfinance clients.

The bank specializes in agricultural and rural lending, offering loans to farmers, fishermen, merchants, and small business enterprises. Microfinance products were launched in 2002 to serve the smallest borrowers in the community.

Digital and modern banking services include ATM savings accounts (launched 2015), ATM withdrawal facilities networked through INFOSERVE INC., and point-of-sale (POS) services (launched 2014). The bank also provides Western Union money transfer services (launched 2009) for domestic and international remittances.

Additional services include SSS contribution collection (authorized in 2009), air ticketing services for major Philippine airlines including PAL, Cebu Pacific, Air Asia, and Tiger Asia (launched 2015), and various payment and utility services. The bank serves as an agent for the Philippine National Bank, Land Bank of the Philippines, and Development Bank of the Philippines in areas where these institutions lack offices.

Question 6

What makes Rural Bank of Hindang (Leyte), Inc. unique?

Accepted Answer

Rural Bank of Hindang (Leyte), Inc. has demonstrated remarkable resilience and adaptability throughout its history. The bank survived and continued operations following Super Typhoon Yolanda (Haiyan) in 2013, one of the strongest tropical cyclones ever recorded, which devastated Eastern Visayas.

The institution has received multiple awards and recognitions, including being named Most Outstanding Rural Bank – Region 8 for 2008 by Land Bank of the Philippines, and being the first countryside financial institution to receive an "Above Acceptable" rating from LandBank in 1995. The bank was also recognized as a top availer of LBP's Rediscounting Program in Eastern Visayas for 1998.

The bank has been a pioneer in sharing best practices with other rural banks, presenting at the RBAP 61st Charter Anniversary Symposium in 2018 and inspiring other rural banks during RBAP conventions. The institution celebrated its 40th anniversary in 2018 under the leadership of President and CEO Mr. Reynaldo A. Dayola, CPA, MM (installed 2016).

Rural Bank of Hindang maintains a strong community focus with the tagline "We listen. We answer. We serve," emphasizing personalized service and deep knowledge of local customer needs.

Question 7

What type of financial institution is Rural Bank of Hindang (Leyte), Inc.?

Accepted Answer

Rural Bank of Hindang (Leyte), Inc. is classified as a rural bank under Philippine banking regulations. Rural banks in the Philippines are specialized financial institutions established under Republic Act No. 7353 (The Rural Bank Act of 1992, which amended the original 1952 Rural Banking Act).

Rural banks are designed to make credit available and readily accessible in rural areas on reasonable terms, with a primary mandate to provide adequate credit facilities to farmers, fishermen, merchants, and cooperatives. These institutions are granted preference in serving applicants whose cash requirements are small.

As a rural bank, the institution is regulated and supervised by the Bangko Sentral ng Pilipinas (BSP) and must comply with capital adequacy requirements, reserve requirements, and prudential regulations specific to rural banking operations. Rural banks in the Philippines play a crucial role in financial inclusion by serving communities that are often underserved by larger commercial and universal banks.

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