After 66 years, Banco Rodriguez, the First Rural Bank in the Philippines, will now be called Bangko ng Kabuhayan (A Rural Bank) Inc. (BNK).
The re-branding signals the bank’s more aggressive posture to service the needs of micro, small, and medium enterprises.
“We are very proud of our heritage. We are, and have always been, part of the local community. That’s why our depositors feel at ease banking with us. They’ve known us for a very long time, they know we are stable, and so they trust us,” the Bangko ng Kabuhayan management team said.
As the board wants the bank to take a more proactive role in encouraging entrepreneurship among existing and future clients, Bangko ng Kabuhayan now provides a variety of microfinancing facilities that range from Php 30,000 to Php 750,000.
Currently, Bangko ng Kabuhayan has branches in three growth areas: Pasig, Antipolo, and San Mateo. The bank is set to expand further out of Rizal and open more branches across key areas in Luzon.
“We also want to give our current and future clients easy access to funds, thereby rescuing them from the onerous and usurious fund sources that they may be used to going to,” the management team further stated.
Bangko ng Kabuhayan customers can also enjoy peace-of-mind knowing that their hard earned savings are safeguarded by a stable and trusted community partner by opening a Regular Savings Account for a minimum maintaining balance of P500. A Time Deposit Account can also be opened for a minimum deposit of Php 500,000 at a very competitive rate.
Bangko ng Kabuhayan’s new identity is being made known to the public coinciding with the anniversary of the signing of Republic Act 720 or the Creation, Organization and Operation of Rural Banks.
The new name clearly defines a more focused vision for the bank.