CARD RBI opens its first door to Mindanaoans

CARD MRI Rizal Bank, Inc. (CARD RBI), a microfinance-oriented rural bank of CARD Mutually Reinforcing Institutions (CARD MRI), opened its first branch in Mindanao on August 19, 2019 to provide banking services closer to the underprivileged communities in the island. The first branch in Mindanao is located in Enerio St., Purok 1, Brgy. Layawan, Oroquieta City, Misamis Occidental. It is the 27th branch of CARD RBI.

“Our focus is to open more branches in Visayas and Mindanao as we aim to promote financial inclusion even to far-flung areas in the country. Through this expansion, it will help us reach and help the unserved and underserved communities in the Philippines,” said CARD RBI President and CEO Elma B. Valenzuela.

An initial of 7,450 clients from the Center for Agriculture and Rural Development (CARD), Inc. were transitioned to CARD RBI as they were ready for formal banking services. CARD, Inc. is the microfinance NGO under CARD MRI which also provides financial and non-financial services to its growing clients.

“CARD RBI can cater the various financial needs of its clients as it offers a wide range of banking products and services. CARD RBI offers micro and SME loans fit to the needs of our growing clients, savings account for them and their children, and remittance services,” emphasized Valenzuela.

She also shared that the institution will open three more branches in Negros Occidental, Zamboanga del Norte, and Leyte before the year ends as it aims to provide financial inclusivity for all.

The opening was led by CARD RBI’s Senior Vice President for Operation Juliana B. de Leon and Independent Board Member Pascuala Geñoso. It followed by a discussion and activity program in promoting the importance of savings.

The savings program encouraged more than hundreds of clients to open their own savings account.

To date, CARD RBI generated more than PhP 4.2 billion assets since it was established in 1996 and is serving more than 400,000 clients nationwide.

The opening of 27th branch of CARD MRI Rizal Bank, Inc. in Oroquieta City, Misamis Occidental.

In the photo (L-R) CARD RBI’s Senior Vice President for Operation Juliana B. de Leon and Independent Board Member Pascuala Geñoso as they graced the opening of the bank.