Sign of financial independence and strength

The rural banking industry—along with the country’s entire banking system—has proven that it remains strong and sufficiently liquid since the start of the year, so much so that the central bank’s loan rediscounting facility has remained largely untapped so far.

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed that total availments of thrift and rural banks of the loan rediscounting facility dropped 96.5 percent year-on-year to P282 million as of end-February.