Lyn Lyn Faith Gaquit
Christine Joy Saligumba
Easter Joy Gecana
Mrs. May Osano
Everything we touch GROWS…
Background of the company
Green Bank, Inc. a subsidiary bank of East West Bank, headquartered in Butuan City, is a premier multi-awarded countryside financial institution. We provide innovative range of products and services designed to quickly respond to the multifaceted-needs of individual, corporate and microfinanance clients. The Bank has been in the front of providing responsive financial services to rural communities. It has opened proactive lending opportunities to the enterprising individual to help augment their daily quality of living. Through the bank's pioneering efforts in offering non-collaterized micro loans and savings services, it has touched the lives of the market vendors, small sari-sari store owners, small service shops and manufacturers, even those who are engaging in agricultural type of business such as farming and livestock projects. With more than 46 established branches and 94 kiosks all over Mindanao, Visayas, and Luzon regions, Green Bank has grown and expanded its banking operations to reach and delight the valued clients.
Green Bank History
Green Bank (now Green Bank,Inc.) was registered at the Securities and Exchange Commission on June 20, 1974 and started operations on April 5, 1975 . During the Marcos regime, the bank availed of the Central Bank's rediscounting program called Masagana 99. Shortly after, the economy started to decline. Its lowest point was immediately after the assassination of Ninoy Aquino in 1983. During this entire period the bank suffered very high past due ratio because borrowers particularly the M-99 farmers did not pay their obligations. Thus, the bank's financial condition deteriorated rapidly. In 1988, Central Bank issued Circular No. 1172 designed to help ailing rural banks through a capital build-up and conversion scheme. The Bank's arrearages with the Central Bank amounted to P15 Million inclusive of interest and penalties. It was then required to infuse fresh capital to cope with capital deficiency. Because of the poor response from the stockholders and the enormity of the arrearages the implementation was delayed. Only the Andaya group initially put in money followed by Engr. Dompor who was convinced by the Chairman, Ismael Andaya to infuse some cash. In 1989, the Board of Directors appointed Rufa C. Suan as manager. During her administration measures were instituted which turned the bank around. In 1993, the Securities and Exchange Commission approved the amendment of the Articles of Incorporation increasing the capitalization from P/2,000,000.00 to P/20,000,000.00. Lately the SEC approved the increase of Authorized Capital Stock from P/20,000,000.00 to P/60,000,000.00.Now the stockholders have opted to further increase the authorized capital stock from P60 Million to P500 Million with an initial paid in of P27,500,000.00 In the late 2000, Green Bank merged with the Rural Bank of Alegria and became the biggest Rural Bank in Caraga in terms of resources. It also became the first rural bank in CARAGA to have branches all over the region. To date there are 42 branches in Mindanao and the Visayas. The program of the government to extend financial assistance to the poorest of the poor embodied in BSP issued Circular No. 340, dated July 30, 2002, authorized banks to establish branches/loan collection and disbursements points (LCDPs) that allowed us great opportunity for expansions for our banking services specifically in the countryside.
Mission and Vision
Green Bank is a premier rural bank providing excellent service to the country.
To provide fast customer- driven products and...