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To
all
past
Presidents
of
RBAI,
Confederation/Federation
Presidents,

our
 friends
 from
 media,
 our
 partners
 in
 the
 industry,
 our
 sponsors,

my
 fellow
 Rural
 Bankers,
 friends,
 ladies
 and
 gentlemen,
 good

morning.



99.2
 Million
 mobile
 subscribers
 among
 all
 mobile
 networks
 in
 the

Philippines;
 12
 Billion
 pesos
 in
 recorded
 transactions
 in
 mobile

banking
amongst
RBAP
member
banks;
a
distinct
increase
in
internet

usage
 with
 93
 percent
 of
 the
 ABC
 market
 segments
 having
 access

from
 their
 own
 homes;
 the
 Philippines
 holding
 the
 title
 of
 social

networking
capital
of
the
world
with
having
a
penetration
of
93.9%

in
Facebook
alone;
ranked
8th
in
the
world
for
twitter
usage;
By
2015,

500
million
and
1
Billion
people
in
Asia
will
access
financial
services

through
 mobile
 services
 through
 the
 initiatives
 of
 mobile
 operators

to
 bank
 the
 unbanked;
 and,
 the
 steady
 growth
 in
 OFW
 remittance

year
on
year!



More
 than
 ever,
 the
 Filipino
 is
 wired
 and
 has
 access.
 
 These
 are
 the

current
 realities
 and
 possibilities
 that
 present
 themselves
 as

opportunities
for
the
Philippine
rural
banking
industry.

These
show

that
the
market
has
evolved
and
has
become
more
sophisticated.



Hence,
we
in
the
RBAP
conceived
this
year’s
54th
Charter
Anniversary

Symposium
theme:
“Rural
Banking
Innovations:
the
next
generation”,

to
 specifically
 address
 the
 evolutionary
 changes
 taking
 place
 in
 the

Philippine
 market.
 
 We
 wish
 to
 show
 you
 that
 the
 RBAP
 and
 its

members
 have
 been
 leading
 the
 way
 most
 specially
 in
 the
 field
 of

mobile
 banking
 where
 through
 the
 efforts
 of
 the
 RBAP‐MABS
 team

has
 made
 the
 Philippines
 a
 leading
 example
 in
 financial
 inclusion

using
the
mobile
phone
platform.

In
the
past
months,
we
have
been

visited
by
nations
across
Asia
and
Latin
America
to
specifically
study

the
 success
 achieved
 by
 mobile
 financial
 services
 in
 the
 Philippines

and
its
impact
on
micro
enterprise
and
micro
business.



Fellow
rural
bankers,
we
need
to
realize
that
banking
as
we
knew
it

before
 has
 been
 changed
 to
 a
 certain
 degree.
 
 We
 need
 to
 embrace

the
 opportunities
 I
 mentioned
 and
 convert
 them
 into
 concrete

services
that
will
enhance
our
relevance
to
our
core
markets.

To
wit,

the
 RBRDFI
 has
 increased
 its
 trainings
 and
 seminars
 to
 enable
 our





employees
to
understand
the
new
products
that
we
are
rolling
out
as

approved
by
our
regulators.





These
 trainings
 and
 seminars
 conducted
 with
 the
 cooperation
 of

regulators
 and
 private
 sector
 partners
 are
 continuous
 and
 ensure

knowledge
 transfer
 is
 constant
 and
 updated.
 
 You
 only
 need
 to

participate
to
be
able
to
have
these
new
products
in
your
respective

financial
markets.



More
 than
 technology
 and
 innovations,
 I
 wish
 to
 touch
 on
 the
 new

generation
 of
 rural
 bankers
 taking
 over
 the
 leadership
 of
 their

respective
 family
 enterprises.
 
 These
 new
 rural
 bankers,
 the
 next

generation,
will
definitely
ensure
that
rural
banking
remains
relevant.


With
 the
 new
 paradigms
 and
 their
 appreciation
 of
 the
 evolving

market
and
technology,
they
bring
with
them
vigor
and
vitality
that

will
invigorate
your
respective
financial
institutions.

While
Filipinos

have
been
known
to
be
prudent
bankers,
I
believe
the
infusion
of
new

blood
and
new
ideas
will
renew
our
commitment
to
the
communities

we
serve.



In
 a
 recent
 meeting
 with
 all
 the
 confederation
 and
 federation

presidents,
I
shared
with
them
some
data
that
I
will
now
share
with

you.
 In
 the
 past
 two
 years,
 our
 performance
 has
 been
 of
 continued

improvement.

Indeed
there
are
some
closures,
but
these
are
more
to

mergers
 and
 consolidations
 rather
 than
 insolvency
 and

undercapitalization.

As
of
end
of
2010,
our
CAR
as
an
industry
stands

at
19%
or
9
percentage
points
higher
than
what
the
BSP
prescribes

or
the
international
standard
of
8%.

Rural
banks
also
posted
steady

profitability
 indicators.
 
 Return
 on
 Equity
 (ROE)
 was
 at
 11.7
 while

Return
on
Assets
(ROA)
was
at
1.9%,
levels
that
are
at
par
with
our

commercial
bank
counterparts.
 
 The
 industry’s
 total
 gross
 loan
 is
 at

P100.2
 billion
 and
 deposits
 at
 P108.9
 Billion,
 both
 an
 increase
 from

the
 previous
 year
 data.
 
 Moreover,
 the
 NPL
 ratio
 is
 at
 8.9%
 and

continue
 to
 steadily
 decrease
 from
 the
 previous
 years.
 This
 is
 by
 in

large
a
clear
measure
of
our
resolve
to
improve
the
performance
as

well
as
the
image
and
perception
not
of
just
of
individual
rural
banks

but
 as
 a
 whole
 industry.
 
 
 We
 are
 continuing
 to
 communicate
 the

good
 news
 to
 the
 general
 public
 by
 actively
 engaging
 the
 national

press
 and
 making
 sure
 that
 misperceptions
 are
 immediately

corrected
and
addressed
and
our
own
views
aired
in
an
environment

of
transparency.











To
 further
 allay
 your
 fears
 on
 the
 recent
 spate
 of
 bank
 mergers,
 let

me
 tell
 you
 that
 this
 form
 of
 streamlining
 has
 brought
 in
 more

benefits
for
us,
pushing
us
to
be
more
innovative.

This
has
resulted

to
 an
 expansion
 of
 non‐traditional
 delivery
 of
 channels.
 
 
 From
 the

latest
count,
there
are
187
ATMS
deployed
by
rural
and
cooperative

banks,
while
55
banks
are
offering
electronic
banking
services.





The
agricultural
front,
despite
the
natural
calamities,
has
been
on
the

upswing.
 
 More
 than
 ever,
 we
 remain
 essential
 in
 providing
 and

extending
 financial
 assistance
 to
 our
 farmers
 who
 have
 achieved
 a

bumper
 crop
 harvest
 of
 corn
 for
 the
 first
 time
 in
 recent
 history.

According
to
Secretary
Alcala
of
the
DA,
by
2013
the
Philippines
will

be
rice
sufficient.

This
puts
us
directly
in
the
frontline
of
sustaining

the
financial
ability
of
our
farmers
and
ancillary
industries
in
helping

them
 move
 their
 businesses
 and
 agricultural
 growth
 forward
 and

upward.
 
 We
 can
 ably
 move
 this
 on
 by
 already
 providing
 micro

insurance
 products
 for
 the
 farmers
 and
 small
 businesses
 that
 are

dependent
on
agricultural
production.

In
fact,
together
with
RBRDFI

and
MABS,
we
had
started
rolling
out
the
training
for
accreditation
to

be
able
to
offer
micro‐insurance
products
in
our
banking
offices.



I
 also
 would
 like
 to
 encourage
 the
 creation
 of
 confederation
 and

federation
websites
linked
to
the
RBAP
website
in
order
to
create
a

national
network
of
rural
banks
visible
globally
to
all
Filipinos.

This

helps
 promote
 each
 of
 the
 rural
 banks
 in
 their
 respective
 areas
 and

serves
 as
 a
 GLOBAL
 WINDOW
 that
 our
 OFWS
 can
 view.
 
 One

interesting
 aspect
 that
 we
 can
 explore
 connected
 to
 this
 is
 by

catering
 to
 the
 special
 needs
 of
 many
 OFWs,
 specifically
 on
 matters

concerning
remittances.


While
remittance
centers
are
dime
a
dozen,

there
 is
 still
 a
 way
 for
 us,
 Rural
 Bankers,
 to
 enter
 this
 industry
 by

offering
 a
 faster
 yet
 affordable
 service
 to
 our
 clients
 in
 the

countryside,
 who
 are
 also
 beneficiaries
 of
 many
 OFWs.
 And
 this
 is

where
the
PhilPass
Remit
System
comes
in.
To
give
you
a
bird’s
eye

view,
our
strategic
role
if
and
when
we
decide
to
use
this
system,
is

we
 can
 offer
 cheaper,
 if
 not
 the
 cheapest
 transaction
 fees
 with
 very

limited
 risk.
 In
 the
 near
 future,
 upon
 your
 acceptance
 and

implementation
of
PhilPass
Remittance
facilities
as
introduced
by
the

BSP,
this
RBAP
and
Confed/Fed
website
network
can
be
a
guide
for

any
Filipinos
in
the
country
and
also
including
OFW’s
living
abroad.









We
have
also
been
actively
talking
with
members
of
Congress
for
the

amendment
of
our
Charter
to
allow
the
infusion
of
foreign
equity
and

partners
for
rural
banks.

I
believe
that
this
will
help
rural
banks
raise

more
capital
in
the
service
of
progress
for
our
clientele,
who
are
the

underserved
 and
 underbank,
 and
 is
 an
 essential
 component
 as
 a

catalyst
for
growth.



The
 creation
 of
 a
 Technical
 Working
 Group
 for
 Credit
 Risk

Management
 is
 another
 positive
 step
 that
 we
 have
 undertaken.
 
 We

envision
this
TWG
to,

(1)
formulate
safety
parameters
to
protect
the

welfare
 of
 Rural
 Banks
 and
 (2),
 come
 up
 with
 faster
 and
 efficient

procedures
in
loan
packaging
and
processing.



On
a
related
note,
the

RBAP
 has
 continued
 its
 partnership
 with
 SBCORP
 in
 pursuing
 their

main
 objective,
 this
 time
 around
 targeting
 an
 additional
 set
 of
 rural

banks
 for
 accreditation.
 
 One
 of
 the
 aims
 of
 this
 partnership,
 just
 to

brief
 you,
 is
 to
 prepare
 a
 risk‐based
 cash
 flow
 approach
 analysis
 in

packaging
 and
 evaluating
 SME
 loan
 applicants.
 
 And
 finally,
 I
 am

happy
 to
 inform
 all
 of
 you
 that
 the
 CIC
 or
 Credit
 Information

Corporation;
a
credit
bureau
for
all
banking
and
financial
institutions

has
formally
started
gaining
ground.

Although
we
are
waiting
for
the

full
 implementation
 of
 this
 credit
 bureau,
 it
 is
 already
 gaining

momentum
 and
 receiving
 positive
 feedback
 from
 stakeholders.
 
 To

further
explain
the
status
of
CIC
we
have
the
President
Mr.
Balthazar

Endriga
to
discuss
this
later
on.





If
there
is
anything
at
all
that
I
have
noticed
in
the
years
I
have
been

involved
 in
 our
 philanthropic
 enterprise,
 it
 is
 our
 slowness
 to

embrace
 things
 that
 are
 new
 to
 us.
 
 Charge
 this
 to
 our
 so‐called

prudence,
but
now
is
a
time
to
embrace
change
for
the
benefit
of
our

consumers.
 
 I
 am
 not
 talking
 about
 overhauling
 the
 whole
 bank
 or

even
going
into
a
branding
campaign.
I
am
talking
about
changes
and

innovations
 that
 will
 definitely
 make
 an
 impact.
 
 These
 are
 simple

steps
that
will
innovate
your
respective
banks.

But
more
than
these,

a
 new
 mindset
 that
 is
 consumer
 focused
 will
 increase
 our
 banks

relevance
to
our
markets
and
always
keep
us
on
the
cutting
edge
of

rural
banking
excellence.





I
hope
that
I
have
given
you
an
insight
on
what
the
possibilities
are

and
the
opportunities
that
can
be
derived
from
them.

All
we
need
to

be
 is
 proactive‐
 proactive
 in
 the
 development
 of
 new
 products
 and





services
and
pro‐active
in
our
appreciation
of
the
knowledge
that
our

market
is
changing.



With
 these,
 we
 can
 move
 onwards
 and
 create
 a
 global
 example
 of

what
a
rural
bank
should
be!

We
did
it
with
mobile
phone
banking,

so
 having
 Philippine
 rural
 banking
 as
 a
 global
 example
 is
 not
 an

impossibility,
but
doable.



Fellow
rural
bankers
and
leaders
in
the
banking
industry,
I
end
with

assurances
to
you
that
we
in
the
leadership
of
the
RBAP
will
continue

to
assist
you
in
the
process
of
innovation
as
we
continue
into
the
new

millennium.
 Together
 and
 united,
 we
 are
 a
 financial
 force
 that
 can

achieve
change
and
greater
good
for
our
countrymen.



Let
 us
 embrace
 our
 heritage
 and
 purpose
 for
 our
 creation
 –
 to
 help

the
financially
underserved
and
unbanked.

In
the
process,
accede
to

the
fact
that
the
markets
and
consumers
have
evolved
and
changed.


And
in
the
process,
so
must
we.
I
hope
you
will
become
Ambassadors

of
change
and
innovation
for
the
industry
after
our
symposium.



Mabuhay.





SPEECH
OF
IAN
ERIC
PAMA

President

Rural
Bankers
Association
of
the
Philippines

54th
Charter
Anniversary
Symposium

Prepared
by
PROCOM































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New speech of iep 54th charter anniversary symposium 1

  • 1. 
 
 
 
 To
all
past
Presidents
of
RBAI,
Confederation/Federation
Presidents,
 our
 friends
 from
 media,
 our
 partners
 in
 the
 industry,
 our
 sponsors,
 my
 fellow
 Rural
 Bankers,
 friends,
 ladies
 and
 gentlemen,
 good
 morning.
 
 99.2
 Million
 mobile
 subscribers
 among
 all
 mobile
 networks
 in
 the
 Philippines;
 12
 Billion
 pesos
 in
 recorded
 transactions
 in
 mobile
 banking
amongst
RBAP
member
banks;
a
distinct
increase
in
internet
 usage
 with
 93
 percent
 of
 the
 ABC
 market
 segments
 having
 access
 from
 their
 own
 homes;
 the
 Philippines
 holding
 the
 title
 of
 social
 networking
capital
of
the
world
with
having
a
penetration
of
93.9%
 in
Facebook
alone;
ranked
8th
in
the
world
for
twitter
usage;
By
2015,
 500
million
and
1
Billion
people
in
Asia
will
access
financial
services
 through
 mobile
 services
 through
 the
 initiatives
 of
 mobile
 operators
 to
 bank
 the
 unbanked;
 and,
 the
 steady
 growth
 in
 OFW
 remittance
 year
on
year!
 
 More
 than
 ever,
 the
 Filipino
 is
 wired
 and
 has
 access.
 
 These
 are
 the
 current
 realities
 and
 possibilities
 that
 present
 themselves
 as
 opportunities
for
the
Philippine
rural
banking
industry.

These
show
 that
the
market
has
evolved
and
has
become
more
sophisticated.
 
 Hence,
we
in
the
RBAP
conceived
this
year’s
54th
Charter
Anniversary
 Symposium
theme:
“Rural
Banking
Innovations:
the
next
generation”,
 to
 specifically
 address
 the
 evolutionary
 changes
 taking
 place
 in
 the
 Philippine
 market.
 
 We
 wish
 to
 show
 you
 that
 the
 RBAP
 and
 its
 members
 have
 been
 leading
 the
 way
 most
 specially
 in
 the
 field
 of
 mobile
 banking
 where
 through
 the
 efforts
 of
 the
 RBAP‐MABS
 team
 has
 made
 the
 Philippines
 a
 leading
 example
 in
 financial
 inclusion
 using
the
mobile
phone
platform.

In
the
past
months,
we
have
been
 visited
by
nations
across
Asia
and
Latin
America
to
specifically
study
 the
 success
 achieved
 by
 mobile
 financial
 services
 in
 the
 Philippines
 and
its
impact
on
micro
enterprise
and
micro
business.
 
 Fellow
rural
bankers,
we
need
to
realize
that
banking
as
we
knew
it
 before
 has
 been
 changed
 to
 a
 certain
 degree.
 
 We
 need
 to
 embrace
 the
 opportunities
 I
 mentioned
 and
 convert
 them
 into
 concrete
 services
that
will
enhance
our
relevance
to
our
core
markets.

To
wit,
 the
 RBRDFI
 has
 increased
 its
 trainings
 and
 seminars
 to
 enable
 our

  • 2. 
 employees
to
understand
the
new
products
that
we
are
rolling
out
as
 approved
by
our
regulators.
 
 

These
 trainings
 and
 seminars
 conducted
 with
 the
 cooperation
 of
 regulators
 and
 private
 sector
 partners
 are
 continuous
 and
 ensure
 knowledge
 transfer
 is
 constant
 and
 updated.
 
 You
 only
 need
 to
 participate
to
be
able
to
have
these
new
products
in
your
respective
 financial
markets.
 
 More
 than
 technology
 and
 innovations,
 I
 wish
 to
 touch
 on
 the
 new
 generation
 of
 rural
 bankers
 taking
 over
 the
 leadership
 of
 their
 respective
 family
 enterprises.
 
 These
 new
 rural
 bankers,
 the
 next
 generation,
will
definitely
ensure
that
rural
banking
remains
relevant.

 With
 the
 new
 paradigms
 and
 their
 appreciation
 of
 the
 evolving
 market
and
technology,
they
bring
with
them
vigor
and
vitality
that
 will
invigorate
your
respective
financial
institutions.

While
Filipinos
 have
been
known
to
be
prudent
bankers,
I
believe
the
infusion
of
new
 blood
and
new
ideas
will
renew
our
commitment
to
the
communities
 we
serve.
 
 In
 a
 recent
 meeting
 with
 all
 the
 confederation
 and
 federation
 presidents,
I
shared
with
them
some
data
that
I
will
now
share
with
 you.
 In
 the
 past
 two
 years,
 our
 performance
 has
 been
 of
 continued
 improvement.

Indeed
there
are
some
closures,
but
these
are
more
to
 mergers
 and
 consolidations
 rather
 than
 insolvency
 and
 undercapitalization.

As
of
end
of
2010,
our
CAR
as
an
industry
stands
 at
19%
or
9
percentage
points
higher
than
what
the
BSP
prescribes
 or
the
international
standard
of
8%.

Rural
banks
also
posted
steady
 profitability
 indicators.
 
 Return
 on
 Equity
 (ROE)
 was
 at
 11.7
 while
 Return
on
Assets
(ROA)
was
at
1.9%,
levels
that
are
at
par
with
our
 commercial
bank
counterparts.
 
 The
 industry’s
 total
 gross
 loan
 is
 at
 P100.2
 billion
 and
 deposits
 at
 P108.9
 Billion,
 both
 an
 increase
 from
 the
 previous
 year
 data.
 
 Moreover,
 the
 NPL
 ratio
 is
 at
 8.9%
 and
 continue
 to
 steadily
 decrease
 from
 the
 previous
 years.
 This
 is
 by
 in
 large
a
clear
measure
of
our
resolve
to
improve
the
performance
as
 well
as
the
image
and
perception
not
of
just
of
individual
rural
banks
 but
 as
 a
 whole
 industry.
 
 
 We
 are
 continuing
 to
 communicate
 the
 good
 news
 to
 the
 general
 public
 by
 actively
 engaging
 the
 national
 press
 and
 making
 sure
 that
 misperceptions
 are
 immediately
 corrected
and
addressed
and
our
own
views
aired
in
an
environment
 of
transparency.
 

  • 3. 
 
 
 To
 further
 allay
 your
 fears
 on
 the
 recent
 spate
 of
 bank
 mergers,
 let
 me
 tell
 you
 that
 this
 form
 of
 streamlining
 has
 brought
 in
 more
 benefits
for
us,
pushing
us
to
be
more
innovative.

This
has
resulted
 to
 an
 expansion
 of
 non‐traditional
 delivery
 of
 channels.
 
 
 From
 the
 latest
count,
there
are
187
ATMS
deployed
by
rural
and
cooperative
 banks,
while
55
banks
are
offering
electronic
banking
services.


 
 The
agricultural
front,
despite
the
natural
calamities,
has
been
on
the
 upswing.
 
 More
 than
 ever,
 we
 remain
 essential
 in
 providing
 and
 extending
 financial
 assistance
 to
 our
 farmers
 who
 have
 achieved
 a
 bumper
 crop
 harvest
 of
 corn
 for
 the
 first
 time
 in
 recent
 history.
 According
to
Secretary
Alcala
of
the
DA,
by
2013
the
Philippines
will
 be
rice
sufficient.

This
puts
us
directly
in
the
frontline
of
sustaining
 the
financial
ability
of
our
farmers
and
ancillary
industries
in
helping
 them
 move
 their
 businesses
 and
 agricultural
 growth
 forward
 and
 upward.
 
 We
 can
 ably
 move
 this
 on
 by
 already
 providing
 micro
 insurance
 products
 for
 the
 farmers
 and
 small
 businesses
 that
 are
 dependent
on
agricultural
production.

In
fact,
together
with
RBRDFI
 and
MABS,
we
had
started
rolling
out
the
training
for
accreditation
to
 be
able
to
offer
micro‐insurance
products
in
our
banking
offices.
 
 I
 also
 would
 like
 to
 encourage
 the
 creation
 of
 confederation
 and
 federation
websites
linked
to
the
RBAP
website
in
order
to
create
a
 national
network
of
rural
banks
visible
globally
to
all
Filipinos.

This
 helps
 promote
 each
 of
 the
 rural
 banks
 in
 their
 respective
 areas
 and
 serves
 as
 a
 GLOBAL
 WINDOW
 that
 our
 OFWS
 can
 view.
 
 One
 interesting
 aspect
 that
 we
 can
 explore
 connected
 to
 this
 is
 by
 catering
 to
 the
 special
 needs
 of
 many
 OFWs,
 specifically
 on
 matters
 concerning
remittances.


While
remittance
centers
are
dime
a
dozen,
 there
 is
 still
 a
 way
 for
 us,
 Rural
 Bankers,
 to
 enter
 this
 industry
 by
 offering
 a
 faster
 yet
 affordable
 service
 to
 our
 clients
 in
 the
 countryside,
 who
 are
 also
 beneficiaries
 of
 many
 OFWs.
 And
 this
 is
 where
the
PhilPass
Remit
System
comes
in.
To
give
you
a
bird’s
eye
 view,
our
strategic
role
if
and
when
we
decide
to
use
this
system,
is
 we
 can
 offer
 cheaper,
 if
 not
 the
 cheapest
 transaction
 fees
 with
 very
 limited
 risk.
 In
 the
 near
 future,
 upon
 your
 acceptance
 and
 implementation
of
PhilPass
Remittance
facilities
as
introduced
by
the
 BSP,
this
RBAP
and
Confed/Fed
website
network
can
be
a
guide
for
 any
Filipinos
in
the
country
and
also
including
OFW’s
living
abroad.
 

  • 4. 
 
 We
have
also
been
actively
talking
with
members
of
Congress
for
the
 amendment
of
our
Charter
to
allow
the
infusion
of
foreign
equity
and
 partners
for
rural
banks.

I
believe
that
this
will
help
rural
banks
raise
 more
capital
in
the
service
of
progress
for
our
clientele,
who
are
the
 underserved
 and
 underbank,
 and
 is
 an
 essential
 component
 as
 a
 catalyst
for
growth.
 
 The
 creation
 of
 a
 Technical
 Working
 Group
 for
 Credit
 Risk
 Management
 is
 another
 positive
 step
 that
 we
 have
 undertaken.
 
 We
 envision
this
TWG
to,

(1)
formulate
safety
parameters
to
protect
the
 welfare
 of
 Rural
 Banks
 and
 (2),
 come
 up
 with
 faster
 and
 efficient
 procedures
in
loan
packaging
and
processing.



On
a
related
note,
the
 RBAP
 has
 continued
 its
 partnership
 with
 SBCORP
 in
 pursuing
 their
 main
 objective,
 this
 time
 around
 targeting
 an
 additional
 set
 of
 rural
 banks
 for
 accreditation.
 
 One
 of
 the
 aims
 of
 this
 partnership,
 just
 to
 brief
 you,
 is
 to
 prepare
 a
 risk‐based
 cash
 flow
 approach
 analysis
 in
 packaging
 and
 evaluating
 SME
 loan
 applicants.
 
 And
 finally,
 I
 am
 happy
 to
 inform
 all
 of
 you
 that
 the
 CIC
 or
 Credit
 Information
 Corporation;
a
credit
bureau
for
all
banking
and
financial
institutions
 has
formally
started
gaining
ground.

Although
we
are
waiting
for
the
 full
 implementation
 of
 this
 credit
 bureau,
 it
 is
 already
 gaining
 momentum
 and
 receiving
 positive
 feedback
 from
 stakeholders.
 
 To
 further
explain
the
status
of
CIC
we
have
the
President
Mr.
Balthazar
 Endriga
to
discuss
this
later
on.


 
 If
there
is
anything
at
all
that
I
have
noticed
in
the
years
I
have
been
 involved
 in
 our
 philanthropic
 enterprise,
 it
 is
 our
 slowness
 to
 embrace
 things
 that
 are
 new
 to
 us.
 
 Charge
 this
 to
 our
 so‐called
 prudence,
but
now
is
a
time
to
embrace
change
for
the
benefit
of
our
 consumers.
 
 I
 am
 not
 talking
 about
 overhauling
 the
 whole
 bank
 or
 even
going
into
a
branding
campaign.
I
am
talking
about
changes
and
 innovations
 that
 will
 definitely
 make
 an
 impact.
 
 These
 are
 simple
 steps
that
will
innovate
your
respective
banks.

But
more
than
these,
 a
 new
 mindset
 that
 is
 consumer
 focused
 will
 increase
 our
 banks
 relevance
to
our
markets
and
always
keep
us
on
the
cutting
edge
of
 rural
banking
excellence.


 
 I
hope
that
I
have
given
you
an
insight
on
what
the
possibilities
are
 and
the
opportunities
that
can
be
derived
from
them.

All
we
need
to
 be
 is
 proactive‐
 proactive
 in
 the
 development
 of
 new
 products
 and

  • 5. 
 services
and
pro‐active
in
our
appreciation
of
the
knowledge
that
our
 market
is
changing.

 
With
 these,
 we
 can
 move
 onwards
 and
 create
 a
 global
 example
 of
 what
a
rural
bank
should
be!

We
did
it
with
mobile
phone
banking,
 so
 having
 Philippine
 rural
 banking
 as
 a
 global
 example
 is
 not
 an
 impossibility,
but
doable.
 
 Fellow
rural
bankers
and
leaders
in
the
banking
industry,
I
end
with
 assurances
to
you
that
we
in
the
leadership
of
the
RBAP
will
continue
 to
assist
you
in
the
process
of
innovation
as
we
continue
into
the
new
 millennium.
 Together
 and
 united,
 we
 are
 a
 financial
 force
 that
 can
 achieve
change
and
greater
good
for
our
countrymen.
 
 Let
 us
 embrace
 our
 heritage
 and
 purpose
 for
 our
 creation
 –
 to
 help
 the
financially
underserved
and
unbanked.

In
the
process,
accede
to
 the
fact
that
the
markets
and
consumers
have
evolved
and
changed.

 And
in
the
process,
so
must
we.
I
hope
you
will
become
Ambassadors
 of
change
and
innovation
for
the
industry
after
our
symposium.
 
 Mabuhay.
 
 
 SPEECH
OF
IAN
ERIC
PAMA
 President
 Rural
Bankers
Association
of
the
Philippines
 54th
Charter
Anniversary
Symposium
 Prepared
by
PROCOM