Bangko Kabayan has been named the Best MSMEs Development Bank at the 2023 International Finance Awards, recognizing the bank’s commitment in supporting the growth and development of micro, small, and medium-sized enterprises (MSMEs).
MSMEs drive economic growth and development in many countries, particularly emerging economies. However, these businesses often face challenges in accessing their finances and other resources needed to grow and expand.
Bangko Kabayan has made it a priority to support MSMEs, recognizing the significant role they play in the economy. The bank has developed a range of products and services tailored to the unique needs of MSMEs, including financing, technical assistance, and training.
“We are honored to receive this award and recognized for our work in supporting MSMEs,” said the CEO/President of Bangko Kabayan, Beatriz B. Romulo. “We believe that MSMEs are the backbone of many economies, and we are committed to providing them with the resources they need to thrive and grow.”
Bangko Kabayan’s recognition as the Best MSMEs Development Bank is a testament to the bank’s commitment in supporting the growth and development of small businesses. The bank’s continued focus on MSMEs will help drive economic growth and development in the succeeding years.
International Finance Awards recognizes industry talent, leadership skills, industry net worth and capability on an international platform. Through the careful consideration of nominations by a qualified research team, winners are declared on the strength of their application and past accomplishments.
Established as Ibaan Rural Bank, Inc. on August 19, 1957, and transformed into Bangko Kabayan Inc. (A Private Development Bank), has 23 branches and 1 branch Lite in the provinces of Batangas, Quezon and Laguna, focusing on municipalities with growth potential in the MSME sector, a deposit base of 51,200 depositors and resources of over P2.5B today.
In 2021, Bangko Kabayan became part of the Union Bank Group after Union Bank’s subsidiary City Savings Bank acquired 70% of the shares of the Batangas-based development bank.|-PR