RCBC champions Financial Inclusion

Yuchengco-led RCBC called on other financial institutions to implement financially-inclusive programs and services to cater to the unbanked.

Through its thrift bank and microfinance arm, Rizal Microbank (RMB), and The Asian Bankers Association (ABA), the bank recently held a two-day seminar-workshop entitled “Microfinance Appreciation Seminar Workshop” (RMB) last June 10-11, 2019 at the RCBC Plaza, Makati City, which was attended by various bank executives occupying critical roles in strategic initiatives, corporate planning, business and product development, and lending operations from different countries such as Bhutan, Iran, Maldives, Nepal, Sri Lanka and Taiwan.

The seminar, facilitated by RMB’s senior officers, tackled the basic concepts of microfinance and financial inclusion, including global and regional trends. It underscored the importance of market segmentation, product development and microfinance operations that endeavor a financially-inclusive mindset.

RMB has been consistent in its effort to serve the unbanked market in the Philippines through its basic deposit account, microfinance loans and other products. In support of the Bangko Sentral ng Pilipinas’ (BSP) thrust towards financial inclusion, the bank caters to agricultural value chain players aside from its usual clients comprising micro and small business operators. BSP’s enabling policy and regulatory environment for sustainable microfinance to flourish in the banking system paved way for RMB to recognize opportunities and potentials in the market segments at the base of the pyramid.