Rural banks lead agri, MSME lending

The rural banking industry continues to cater to the needs of the people in the countryside and the small businesses, with data from the Bangko Sentral ng Pilipinas (BSP) showing strong lending activity from the industry.

First-quarter data by the BSP showed over-compliance by the rural and cooperative banks in extending agrarian reform and agricultural credit, achieving 34 and 17 percent, respectively, far beyond the required 15 and 10 percent.