GM Bank gets technical assistance

MANILA, Philippines - The Microenterprise Access to Banking Services (MABS) program visited Nueva Ecija-based rural bank GM Bank last month to provide technical assistance and review its microfinance operations.

GM Bank is one of the country’s top 10 rural banks with over P1.6 billion in assets and a dominant player in Central Luzon. MABS reviewed the bank’s microenterprise loan products, microfinance for agriculture, and the pilot testing of a new housing microfinance product.

MABS likewise analyzed its lending procedures and management systems thereby coming up with recommendations for further strengthening.

It conducted focus group discussions and surveys to assess the bank’s readiness on using micro-insurance products, as well as generate information that may assist in the development of more responsive micro-insurance products and services for the bank s micro-enterprise clients and their families.