Relevancy and necessity

Inclusive growth remains an elusive dream. While rural banks have focused on the area of countryside development, there remains an enormous gap between the have’s and have not’s, particularly in the area of access to banking. As indicated in an earlier survey by the Bangko Sentral ng Pilipinas, only 25 percent of the total Filipino households have savings account. Of the households with savings, two out of three have bank accounts.

As it celebrates its 56th Charter Anniversary, the Rural Bankers Association of the Philippines—the principal representation of the rural banking industry in the country—once again revisits its role in spearheading countryside development as far as all rural banks are concerned.