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| BRIEF HISTORY |
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Rural Bank of Tagum is the first bank in the frontier of Tagum (the old name was Magugpo), then the capital of Davao del Norte. It was inaugurated on February 6, 1960. The Owner then was H.R. Lopez and Sarmiento. And since then its resources grew effectively servicing the needs of thriving residents of the community. |
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In July of 1981, new life was given to the bank when a group led by a seasoned banker, Mr. Reynaldo "Boy" Reyes, acquired the bank from previous stockholders, which at the time had a resource base of P1.2Million. Since then, Rural Bank of Tagum has established its rightful place in Davao Province's premier town and continues to hold its own in the banking community. |
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| The early 90's witnessed a revitalizing economy culminating with liberalized banking laws and in 1995 allowing the entry of foreign banks and the opening of new commercial and rural banks. Amidst this dynamic environment, Tagum Rural Bank strengthened its presence in the traditional as well as emerging markets. |
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In 1997 and 1998, Rural Bank of Tagum exerted greater efforts and expanded within key locations in Davao del Norte, Davao del Sur, and Davao Oriental towards serving the middle market and low-end entrepreneurs, in addition to the traditional market niche it had carved for itself. And in 1997, with the approval of BSP and SEC, the bank eventually carried the new name TRuBANK. TRuBANK undertook strategically imperative moves, the benefits of which are now being realized and will continue to have a long-term impact on public awareness for the bank. |
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| MISSION / VISION |
| Mission |
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We are Committed to Creative Banking and providing professional services for customer satisfaction, sustainability and growth. |
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Vision |
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We are a Stable Prime Mover in Countryside Development |
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| BOARD OF DIRECTORS |
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Chairman of the Board / CEO |
Directors |
Directors - Independent |
Reynaldo I. Reyes |
Lily So Yap |
Benjamin S. Geli |
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Clark S. Yap |
Josephine S. Antes |
Chairman Emeritus |
Ferdinand P. Subido |
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Cresencio C. Yap |
Charles Reginald D. Reyes |
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| ASSET GROWTH |
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Aided by an improving economic environment, TRuBANK achieved unprecedented growth rates in deposit and loans, coupled with profitable operations. Its total resources grew over almost eight times from P32.8 million in 1991 to P255.2 million in December 31, 2001 |
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| DEPOSIT GENERATION |
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Much of the growth was fueled by increases in traditional deposits. To revitalize its array of products, the bank introduced improved personalized services, preferred rates on deposits, priviledged depositors club and access to the bank's business center. The bank's deposits grew over almost nine times from P21.5 million in 1991 to P183.6 million on end December 2001. |
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| LENDING ACTIVITIES |
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In an environment characterized by increasingly thin spreads and harsh competition, the bank's loan portfolio reflected a hefty growth due to a more focused approach to the market place emphasizing on small and medium business entrepreneurs. The bank's policy allowed TRuBANK to respond rapidly to the needs of the microentrepreneurs. |
Thus, new product lines and asset-based lending were quickly announced. The bank also maintained efforts to increase its share of prime corporated accounts. Loan portfolio multiplied nearly eight-fold from P20.6 million in 1991 to P157.61 million at year-end 2001.
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Sources of loan funds for release to borrowers were: |
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2. Deposits generated from clients |
3. Borrowings from Bangko Sentral ng Pilipinas and Other rediscounting facilities with other financial institutions |
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| BRANCH EXPANSION |
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Trubank devoted a significant amount of effort and resources to its aggressive expansion program that in 1997 and 1998, it increased its branch network from four to eight by end of 1998 and increased further to ten by the end of 2001 as a result of the merger. Another two branches in the Davao City area will increase the incentive brought about by the merger. This incentive broke the threshold of TRuBANK finally getting a branch in Davao City. |
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At the same time when the new branches were being opened, other existing branches were continually renovated and facilities improved to respond to the changing demographic requirements of the market and its clientele. Proof of this is the improvement of the facilities at its compostela and Nabunturan branches at the end of 2001. |
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