During the recent Rural Banker\u2019s Association of the Philippines (RBAP) Annual Convention,\u00a0 Bangko Sentral ng Pilipinas (BSP) hailed Katipunan Bank (KB) as best practice in terms of past due with a rate of 2.3%. This arduous feat in the microfinance industry is a manifestation that the rural bank has come a long way since its establishment 32 years ago.<\/p>\n
With more than three decades of working tirelessly to uplift the economic condition of communities in Zamboanga Del Norte, Katipunan Bank is now reaping the rewards of the organization\u2019s dynamism and aggressiveness. \u00a0From its humble beginnings with only four employees, the organization is now home to 416 staff and over 41,000 clients. In 1997, BSP allowed Katipunan Bank to open its first branch in Dipolog City and eventually purchased Plaza Rural Bank in 2001, making it its first subsidiary company.\u00a0 As Katipunan Bank compellingly strives to participate in poverty reduction and women empowerment, it launched its microfinance program in 2003. The program aims to provide financial assistance to the poor sector in Zamboanga del Norte.<\/p>\n
Due to the rapid growth of the organization primarily brought by its widely received microfinance program, Katipunan Bank decided to seek assistance from other organizations that would enable them to competently adapt to changes. As a result, KB sought the assistance of Social Enterprise Development Partnerships, Inc. (SEDPI) in 2008 to facilitate and craft its strategic plan. The 5-year strategic plan provided KB with revitalized strategies to strengthen its operation.\u00a0 These strategies include market protection strategies, market expansion, resource mobilization, product innovation, and organizational development strategies.<\/p>\n
In 2010, SEDPI and Katipunan Bank renewed its partnership through the SEDPI-Katipunan Bank Microfinance Strategic Partnership Innovation. The partnership established Katipunan Bank as a training hub of Ateneo De Manila University Microfinance Capacity Building Program. By establishing Katipunan Bank as a training hub in Mindanao, capacity building through trainings is brought closer to microfinance players in the area. To date, a total of nine trainings were already conducted, from which hundreds of practitioners have benefitted.<\/p>\n
These milestones are just a few that Katipunan Bank achieved through the years. The organization also received recognition for its efforts in gender development and employee welfare. In the coming years, Katipunan Bank will continue its pursuit as a development catalyst through maintaining a balance in its financial and social mission.<\/p>\n","protected":false},"excerpt":{"rendered":"
During the recent Rural Banker\u2019s Association of the Philippines (RBAP) Annual Convention,\u00a0 Bangko Sentral ng Pilipinas (BSP) hailed Katipunan Bank (KB) as best practice in terms of past due with a rate of 2.3%. This arduous feat in the microfinance industry is a manifestation that the rural bank has come a long way since its […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-482","post","type-post","status-publish","format-standard","hentry","category-microfinance"],"yoast_head":"\n