“An innovative and caring bank that fosters economic transformation of its clients.” This is Community Rural Bank of Catmon’s (CRBC) vision statement as a result of its strategic planning workshop. SEDPI facilitated the workshop in Catmon, Cebu on March 9-10, 2012.
The strategic planning workshop was a bottom up approach. During the internal analysis, the result of various consultations with majority of its management staff regarding their sentiments and future plans were presented. An impact assessment of the clients as well as the overall organizational performance was presented as well. CRBC’s board of directors, top management and key officers attended the actual workshop. SEDPI provided the external analysis that contains recent trends in microfinance.
CRBC’s President, Mrs. Armida Caguitla, said, “the workshop is an opportunity for the bank to determine where the organization is at present and what path it will take in the future.” Key management officers of the bank have added that a strategic plan is imperative to the growth of CRBC since it will determine what the organization will do and is the foundation of crucial decisions that the management will make in the years to come.
During the workshop, CRBC was able to provide a unique character to its vision and redefine its mission. The bank will provide financial products and allied services for the economic transformation of its clients. The objectives include increase in outreach through expansion, provision of allied services, and ensuring both the financial and organizational sustainability of the bank. Moreover, CRBC was able to generate a set of strategic options steered towards achievement of its objectives. Such strategies focus on market consolidation, product innovation and organizational development.
With the new strategic plan, CRBC will remain true to its core values to set itself unique from its peers. Through this, the institution hopes to play a significant role on the economic transformation of its clients.