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Wikipedia

Banco Dipolog

January 02, 2023

PBCom Rural Bank, formerly Banco Dipolog, Inc., was the 54th rural bank opened in the Philippines after the enactment of the Rural Banking Act of 1952. The late Justice Florentino Saguin, with the strong support of his son, Atty. Augusto “Tuting” Saguin, originally established it as the Rural Bank of Dipolog, Inc. (RBDI) on October 17, 1957, and opened its welcoming doors to the banking public on November 2, 1957.[4][5]

PBCom Rural Bank
Logo of the former Banco Dipolog prior to PBCom rebranding
FormerlyRural Bank of Dipolog(1957-2010)
Banco Dipolog, Inc.(2010-2018)
PBCOM Rural Bank, Inc.(2018-2019)
TypePrivate
IndustryFinance
FoundedDipolog City (November 2, 1957 (1957-11-02))
Defunct2019
FateAcquired by, and later merged into, Producers Bank
Headquarters083 Rizal Ave. Cor. Mayor Vicente Calibo St.,,
Dipolog City, Zamboanga Del Norte
,
Philippines
Number of locations
12 branches
Key people
Mr. Jude Martin Raymund B. Saguin, President / Chairman Emeritus[1]
Ms. Ma. Katrina Francesca S. Herrera MBA, EVP / COO
ServicesBanking, Insurance
ParentProducers Savings Bank Corporation (since 2019)[2]
Philippine Bank of Communications (2014 to 2019)[3]
Websitepbcomrb.com.ph

History

Rural Bank of Dipolog, Incorporated (1957 to 2010)

Banco Dipolog started in 1957 by Justice Florentino Saguin who retired from government service due to his various capacities. Having his retirement funds, he was given an option together with his son Augusto G. Saguin if they would investing a lot in Makati City, or to put up his funds for the establishment of a Rural Bank in Dipolog. Florentino said to his son, ”I want to spend what little time I have left and what little resources I possess for the benefit of the small people from where I came.” And so the decision was final.

Complying with all the requirements of the Central Bank and the Securities and Exchange Commission the Rural Bank of Dipolog, Inc. was granted its charter in October 1957 and was inaugurated on November 2, 1957.

They started with a “paid in capital” of only Php 50,000. with a rented office at the Lacaya Building which was the only concrete building of consequence in Dipolog at the time. Justice Florentino Saguin was the first Bank President. His only previous exposure at finance was as Chairman of the Mindanao Emergency Currency Board which printed and issued Emergency Money for the use of the Guerrilla movement in Mindanao and to support the local economy during the war. This was the so-called “Saguin Money”.

They started with a manpower of only three people with Augusto as the Manager, Mrs. Gregoria Espiritu, CPA as the Bookkeeper – Accountant, and Mrs. Araceli Zapanta as Cashier – Teller. The workings and methods of Rural Banking then were so simplified and was so designed for untrained folks to do in the rural areas.[6]

In 1965, Justice Florentino Saguin died and the management was passed on to his wife, Doña Consuelo Galleposo Saguin. Doña Consuelo spent the last ten years of her life in proficiently nurturing the viability of the bank at its early growth stage until a fine – tuned change of leadership was experienced by the bank after her death.

In June 1975, following the death of Doña Consuelo, the son who then became an attorney, Atty. Augusto Saguin, formally took his sublime oath as chairman and President. At his management, the bank was cited by Bangko Sentral ng Pilipinas as the Top Rural Bank for Region IX in 1989.

RBDI expanded in the 1990s. In 1998, a branch in Dapitan City opened on January 8, then in Sindangan on July 8. In 2000, it started offering its consumer loan products as such as their microfinance which they dubbed as “TIGUM” (Visayan: to collect) or “Tubag sa Gikinahanglan Ug Magmalambuon” (Visayan: A solution for the needy abound) loan product.[7] At that time it was the first and only accredited rural bank of the Microenterprise Access to Banking Services (MABS) within the province. More branches and “other banking offices” were later opened within the provinces of Zamboanga Sibugay, Misamis Occidental and Zamboanga del Sur.[4]

In 2009, Atty. Augusto G. Saguin pass the management to Mr. Jude Martin Raymund B. Saguin whom was elected as the President and chairman of the board of directors. The granddaughter of Atty. Saguin, Ms. Ma. Katrina Francesca S. Herrera was designated as the Vice President for Administration and Finance.[4][8]

Banco Dipolog, Incorporated (2010 to 2018)

On April 17, 2010, the name Rural Bank of Dipolog was rebranded to what is now the Banco Dipolog, Inc.[4] As of September 30, 2010, RBDI ranks 14th in terms of total capital, 29th in terms of total gross loan portfolio and 42nd in terms of total assets among over 600 rural banks.

PBCom Acquisition

In 2014, The Philippine Bank of Communications (PBCOM) signed a memorandum of agreement with the Controlling Stockholders of Banco Dipolog. The agreement will give PBCOM a majority stake of Banco Dipolog, subject to the Central Bank's approval.[9] PBCOM President and CEO Nina D. Aguas said that PBCOM's investment in Banco Dipolog will allow PBCOM to strengthen its presence in Mindanao, while bringing Banco Dipolog's client base an expanded suite of products and services that PBCOM offers as a commercial bank.

Producers Bank acquisition (2018 to 2019)

In 2018, Banco Dipolog, Inc. is officially renamed as PBCom Rural Bank. In 2019, Producers Savings Bank Corporation acquired ninety-nine point ninety-eight percent (99.98%) of PBCom Rural Bank's stock capital making the rural bank a fully owned subsidiary until it is merged with Producers Bank.[10]

Branches

To date, they have 16 branches and 9 Branch Lites, nationwide:[11]

Branch Lites

See also

References

  1. ^ "Banco Dipolog Inc - Company Profile and News". Bloomberg News.
  2. ^ "Producers Bank Acquires PB Caraga and PB Com Rural Bank".
  3. ^ . Archived from the original on 2016-11-12. Retrieved 2016-11-11.
  4. ^ a b c d "Zamboange Del Norte's First Bank!". bancodipolog.com. Retrieved 2016-11-11.
  5. ^ https://pbcomrb.com.ph/about-us/
  6. ^ "History". bancodipolog.com. Retrieved 2016-11-11.
  7. ^ regsdrew (2010-09-13), RBDI Infomercial - Part 1, retrieved 2016-11-11
  8. ^ "Banco Dipolog, Inc.: Private Company Information - Businessweek". bloomberg.com. Retrieved 2016-11-11.
  9. ^ "Philippine Bank of Communications". pbcom.com.ph. Retrieved 2016-11-11.
  10. ^ "PBCom Rural Bank announces change in ownership". pbcomrb.com.ph. Retrieved 2019-09-26.
  11. ^ "Branches". pbcomrb.com.ph/. Retrieved 2019-05-02.

January 02, 2023
banco, dipolog, this, article, uses, bare, urls, which, uninformative, vulnerable, link, please, consider, converting, them, full, citations, ensure, article, remains, verifiable, maintains, consistent, citation, style, several, templates, tools, available, as. This article uses bare URLs which are uninformative and vulnerable to link rot Please consider converting them to full citations to ensure the article remains verifiable and maintains a consistent citation style Several templates and tools are available to assist in formatting such as Reflinks documentation reFill documentation and Citation bot documentation August 2022 Learn how and when to remove this template message PBCom Rural Bank formerly Banco Dipolog Inc was the 54th rural bank opened in the Philippines after the enactment of the Rural Banking Act of 1952 The late Justice Florentino Saguin with the strong support of his son Atty Augusto Tuting Saguin originally established it as the Rural Bank of Dipolog Inc RBDI on October 17 1957 and opened its welcoming doors to the banking public on November 2 1957 4 5 PBCom Rural BankLogo of the former Banco Dipolog prior to PBCom rebrandingFormerlyRural Bank of Dipolog 1957 2010 Banco Dipolog Inc 2010 2018 PBCOM Rural Bank Inc 2018 2019 TypePrivateIndustryFinanceFoundedDipolog City November 2 1957 1957 11 02 Defunct2019FateAcquired by and later merged into Producers BankHeadquarters083 Rizal Ave Cor Mayor Vicente Calibo St Dipolog City Zamboanga Del Norte PhilippinesNumber of locations12 branchesKey peopleMr Jude Martin Raymund B Saguin President Chairman Emeritus 1 Ms Ma Katrina Francesca S Herrera MBA EVP COOServicesBanking InsuranceParentProducers Savings Bank Corporation since 2019 2 Philippine Bank of Communications 2014 to 2019 3 Websitepbcomrb wbr com wbr phContents 1 History 1 1 Rural Bank of Dipolog Incorporated 1957 to 2010 1 2 Banco Dipolog Incorporated 2010 to 2018 1 3 PBCom Acquisition 1 4 Producers Bank acquisition 2018 to 2019 2 Branches 2 1 Branch Lites 3 See also 4 ReferencesHistory EditRural Bank of Dipolog Incorporated 1957 to 2010 Edit Banco Dipolog started in 1957 by Justice Florentino Saguin who retired from government service due to his various capacities Having his retirement funds he was given an option together with his son Augusto G Saguin if they would investing a lot in Makati City or to put up his funds for the establishment of a Rural Bank in Dipolog Florentino said to his son I want to spend what little time I have left and what little resources I possess for the benefit of the small people from where I came And so the decision was final Complying with all the requirements of the Central Bank and the Securities and Exchange Commission the Rural Bank of Dipolog Inc was granted its charter in October 1957 and was inaugurated on November 2 1957 They started with a paid in capital of only Php 50 000 with a rented office at the Lacaya Building which was the only concrete building of consequence in Dipolog at the time Justice Florentino Saguin was the first Bank President His only previous exposure at finance was as Chairman of the Mindanao Emergency Currency Board which printed and issued Emergency Money for the use of the Guerrilla movement in Mindanao and to support the local economy during the war This was the so called Saguin Money They started with a manpower of only three people with Augusto as the Manager Mrs Gregoria Espiritu CPA as the Bookkeeper Accountant and Mrs Araceli Zapanta as Cashier Teller The workings and methods of Rural Banking then were so simplified and was so designed for untrained folks to do in the rural areas 6 In 1965 Justice Florentino Saguin died and the management was passed on to his wife Dona Consuelo Galleposo Saguin Dona Consuelo spent the last ten years of her life in proficiently nurturing the viability of the bank at its early growth stage until a fine tuned change of leadership was experienced by the bank after her death In June 1975 following the death of Dona Consuelo the son who then became an attorney Atty Augusto Saguin formally took his sublime oath as chairman and President At his management the bank was cited by Bangko Sentral ng Pilipinas as the Top Rural Bank for Region IX in 1989 RBDI expanded in the 1990s In 1998 a branch in Dapitan City opened on January 8 then in Sindangan on July 8 In 2000 it started offering its consumer loan products as such as their microfinance which they dubbed as TIGUM Visayan to collect or Tubag sa Gikinahanglan Ug Magmalambuon Visayan A solution for the needy abound loan product 7 At that time it was the first and only accredited rural bank of the Microenterprise Access to Banking Services MABS within the province More branches and other banking offices were later opened within the provinces of Zamboanga Sibugay Misamis Occidental and Zamboanga del Sur 4 In 2009 Atty Augusto G Saguin pass the management to Mr Jude Martin Raymund B Saguin whom was elected as the President and chairman of the board of directors The granddaughter of Atty Saguin Ms Ma Katrina Francesca S Herrera was designated as the Vice President for Administration and Finance 4 8 Banco Dipolog Incorporated 2010 to 2018 Edit On April 17 2010 the name Rural Bank of Dipolog was rebranded to what is now the Banco Dipolog Inc 4 As of September 30 2010 RBDI ranks 14th in terms of total capital 29th in terms of total gross loan portfolio and 42nd in terms of total assets among over 600 rural banks PBCom Acquisition Edit In 2014 The Philippine Bank of Communications PBCOM signed a memorandum of agreement with the Controlling Stockholders of Banco Dipolog The agreement will give PBCOM a majority stake of Banco Dipolog subject to the Central Bank s approval 9 PBCOM President and CEO Nina D Aguas said that PBCOM s investment in Banco Dipolog will allow PBCOM to strengthen its presence in Mindanao while bringing Banco Dipolog s client base an expanded suite of products and services that PBCOM offers as a commercial bank Producers Bank acquisition 2018 to 2019 Edit In 2018 Banco Dipolog Inc is officially renamed as PBCom Rural Bank In 2019 Producers Savings Bank Corporation acquired ninety nine point ninety eight percent 99 98 of PBCom Rural Bank s stock capital making the rural bank a fully owned subsidiary until it is merged with Producers Bank 10 Branches EditTo date they have 16 branches and 9 Branch Lites nationwide 11 Dipolog City Main Office Dapitan City Sindangan Zamboanga Del Norte Ipil Zamboanga sibugay Pagadian City Dumaguete City Cebu City Ozamiz City Cagayan De Oro City Iligan City Valencia City Bukidnon City of Calamba Laguna Los Banos Laguna Imelda Zamboanga Sibugay Nagcarlan Laguna San Pablo LagunaBranch Lites Edit Mandaue City Cebu Aurora Zamboanga del Sur Calamba Misamis Occidental Liloy Zamboanga del Norte Manukan Zamboanga del Norte Manukan Zamboanga del Sur Oroquieta City Pinan Zamboanga del Norte Siayan Zamboanga del NorteSee also EditProducers Bank List of banks in the PhilippinesReferences Edit Banco Dipolog Inc Company Profile and News Bloomberg News Producers Bank Acquires PB Caraga and PB Com Rural Bank Philippine Bank of Communications Archived from the original on 2016 11 12 Retrieved 2016 11 11 a b c d Zamboange Del Norte s First Bank bancodipolog com Retrieved 2016 11 11 https pbcomrb com ph about us History bancodipolog com Retrieved 2016 11 11 regsdrew 2010 09 13 RBDI Infomercial Part 1 retrieved 2016 11 11 Banco Dipolog Inc Private Company Information Businessweek bloomberg com Retrieved 2016 11 11 Philippine Bank of Communications pbcom com ph Retrieved 2016 11 11 PBCom Rural Bank announces change in ownership pbcomrb com ph Retrieved 2019 09 26 Branches pbcomrb com ph Retrieved 2019 05 02 Retrieved from https en wikipedia org w index php title Banco Dipolog amp oldid 1107505310, wikipedia, wiki, book, books, library,

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