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Rural Bank: Here Starts The Lesson!

This document discusses rural banks in the Philippines. It defines rural banks as government-sponsored banks that provide credit facilities and financial services to farmers, merchants, and rural communities. It then lists examples of rural banks in the Philippines and describes some of their core functions, such as granting loans, accepting savings deposits, selling crafts, and acting as an agent to buy and sell securities for customers. Finally, it outlines some common services rural banks provide, such as opening bank accounts, acting as trustees, and serving as an official depository for local government funds.

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Mariele
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155 views7 pages

Rural Bank: Here Starts The Lesson!

This document discusses rural banks in the Philippines. It defines rural banks as government-sponsored banks that provide credit facilities and financial services to farmers, merchants, and rural communities. It then lists examples of rural banks in the Philippines and describes some of their core functions, such as granting loans, accepting savings deposits, selling crafts, and acting as an agent to buy and sell securities for customers. Finally, it outlines some common services rural banks provide, such as opening bank accounts, acting as trustees, and serving as an official depository for local government funds.

Uploaded by

Mariele
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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RURAL

BANK
Here starts the
lesson!
NATURE OF RURAL BANK
government-sponsored/assisted banks which are privately managed and largely
privately owned that provide credit facilities to farmers and merchants, or to
cooperatives of such farmers or merchants at reasonable terms and in general, to the
people of the rural community.
KINDS OF RURAL
BANKS IN THE
PHILIPPINES
• BDO Network bank • Metro South Coop Bank
• East West Rural Bank • Rang-ay Bank
• Card Bank • RB of Angeles
• Guagua Rural Bank • Country Builders Bank
• Card MRI Rizal Bank • Katipunan Banking
• Cebuana Lhuillier RB • Coop Bank of Cotabato
• FicoBank • Summit Bank
• BOF Inc. Rural Bank • Marayo Bank
• Quezon Capital RB • Cantilan Bank
• Agribusiness Rural Bank • Ilocos Consolidated
FUNCTIONS OF RURAL
BANKS
A rural bank may offer or perform any or all of the following:

● Grant loans and make investments in accordance with existing rules and regulations.

● Accept savings and time deposit

● Sell domestic crafts

● Act as correspondent for other financial institutions

● Receive in custody funds, documents, and other valuable objects, and rent safety deposit boxes for
safeguarding of such objects.

● Act as financial agent, buy and sell, by order of and for the account of its customers, shares, evidences of
indebtedness and all types of securities.

● Make collections and payments for the accounts of others and perform such other services for its customer as
are not incompatible with banking business.
SERVICES OF RURAL BANK
The rural bank, upon prior approval of the Monetary Board, performs any or all of the following services

● Open current, demand or checking accounts or Now accounts

● Act as trustee over estates or properties of farmers and merchants

● Act as official depository of municipal, city or provincial funds in the municipality, city or province where the bank
is located.

● Rediscount paper with the Philippine National Bank or the Development Bank of the Philippines, or other banks and
their branches and agencies, subject to such rules and regulations governing rediscounting

● Invest in allied undertakings.


Members
Asunto, Jeffrey N.
Cacho, Mariele R.

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