The members of Rural Bankers Association of the Philippines (RBAP) recently celebrated 52 years of service to the nation with a symposium aptly entitled “Banking at the Base of the Pyramid."

The two-day symposium is a yearly event supported by the RBAP for its members and serves as a venue for dialogue and knowledge exchange among government officials, private sector partners, stakeholders, and Rural Banks' owner-members.

This year’s topic and focus illustrated the active efforts of the rural banking industry in the microfinance and microenterprise sectors. It reinforced the commitment of the industry to financially underserved Filipinos in the farthest provinces and towns and concretely displayed its burgeoning portfolio of services and products for this sector. The symposium saw a lively exchange of views from the various participating sectors in the open forum that fostered understanding of the needs and regulations to sustain the growth that had been achieved in the previous years. Rural Banks remain the largest loan providers for the agri-agra sector and provincial based small-scale and medium-scale businesses.

“We are doing this to solidify the gains that the rural banking industry has made in the past years and we are closely working with regulators and stakeholders to create a far more conducive and partnerbased growth and development for the countryside," shared RBAP president, Joseph Omar O. Andaya. "We want continued dialogue among the members of the RBAP, regulators, and the other stakeholders. The event was a venue for renewing ties among industry peers and partners from other sectors like the telecom and insurance industries.

”No less than President Gloria Macapagal Arroyo officially opened the ceremonies with a keynote speech that lauded the rural banking industry for its commitment to countryside development and nation building. Jose C. Nograles, president of the Philippine Deposit and Insurance Corporation (PDIC), reassured the public that the rural banking industry remained healthy despite some banks being monitored for their individual performances. He encouraged these banks to undergo mergers and consolidation with the bigger rural banks. On the other hand, OIC-Governor of Bangko Sentral ng Pilpinas (BSP) Nestor Espenilla Jr. committed the full support of the BSP to the rural banking industry by announcing further reforms that would help rural banks develop products that will enhance their capabilities to serve farmers and small businessmen in their respective areas. Department of Agriculture Secretary Arthur Yap also encouraged the industry to continue helping in the growth of agriculture and the promotion of its derivative worldclass products. Congressman Jaime Lopez, head of the Committee on Banking and Financial Institutions, for his part informed the RBAP members that more positive legislation is in the works to assist the PDIC and the BSP to enable the regulatory bodies create a healthier, robust, and more conducive banking climate in the country.

"As we push forward, RBAP will continue to assist and guide its members on strengthening their capacity to provide worldclass services in their respective areas and provinces," said Andaya. "RBAP will also assist policy and regulatory bodies by providing industry inputs that will enhance the relationship amongst regulators, bankers, and stakeholders ultimately leading to a better rural banking environment. Most important is the strong commitment that the members have expressed towards maintaining a strong microfinance banking infrastructure that recently propelled the Philippines to being recognized as the leader in Asia and third in the world on its performance in this sector. We will remain committed to the poor and financially underserved and unserved."

The symposium recently held at the Sofitel Philippine Plaza saw the attendance of over 450 rural bankers, industry partners and members from the various government agencies despite the gloomy weather.