18 rural banks join global microfinance network

Eighteen rural banks were awarded certificates by The MIX, a Washington-based not-for-profit organization dedicated to increasing the availability of reliable, standardized and comparable data on the financial performance and outreach of microfinance institutions.

The 18 banks, which are MABS participating banks (PBs), are participating in the MixMarket, MIX’ global web-based microfinance information platform. The 18 banks have posted their institutional profiles and financial information on the MixMarket (www.mixmarket.org).

The Rural Bankers Association of the Philippines (RBAP) signed a partnership with the MIX in April 2005.

The partnership aims to improve the performance and growth of RBAP member banks through increased access to local and international performance benchmarks, increase investment flows to rural banks through improved transparency and information disclosure, and augment RBAP’s capacity to establish realistic performance targets within its membership and strengthen its role as an advocate for the adoption of appropriate performance standards and norms.

The certificates were given out during the recent National Roundtable Conference of the MABS Program to the following banks: Bangko Kabayan, Rural Bank of Mabitac, Bangko Mabuhay, First Isabela Cooperative Bank, Bangko Santiago de Libon, Rural Bank of Solano, CARD Bank, New Rural Bank of Victorias, Valiant Bank, Rural Bank of San Enrique, Cooperative Bank of Misamis Oriental, GreenBank of Caraga, Cantilan Bank, Rural Bank of Digos, Rural Bank of Talisayan, Bukidnon Cooperative Bank, Rural Bank of Sto. Tomas, First Valley Bank, and the Rural Bank of Tangub.

The MABS Program, a USAID-funded program implemented by the RBAP, with oversight provided by the Mindanao Economic Development Council (MEDCo) under the Office of the President, assists rural banks to develop their capacity to profitably provide banking services to microentrepreneurs.