RBAP-MABS reviews Valiant Bank’s microfinance products and operations

A review team from the USAID-supported RBAP-MABS program evaluated Valiant Bank’s microfinance products and operations on June 27-29. Valiant Bank offers individual liability loan product for micro business owners (Leads Me) and micro-agricultural loan product (Bugana) for farmers.

Valiant Bank ops rev 1

The review team assessed the performance of the bank’s microfinance products, these products design, the internal processes, and the bank’s strengths and areas for improvement. The team also reviewed the bank’s microfinance delivery systems, organizational structure, loan implementation and documentation, and management information system (MIS). The results and recommendations based on the review will help the bank further improve its existing products and systems to align with changes in the market and client demand.

Valiant Bank ops rev 2

Valiant Bank started its microfinance operations in September 2004. It now offers microfinance loans in its head office in Iloilo City and in its three (3) branches and nine (9) other banking offices located in Iloilo and Negros Occidental. Its micro-agricultural lending activity has disbursed over 11,700 loans totaling over PhP223.6 million ($5.2 million) to more than 4,200 small farmers.

With the Bangko Sentral ng Pilipinas’ (BSP) recent approval of Valiant Bank’s consolidation with two other rural banks: Rural Bank of Sapian and Rural Bank of Ma-ao, the bank aims to further boost its assets and strengthen its position as a leading rural bank in the Visayas. The bank’s management is currently waiting for the green light from Securities and Exchange Commission.

Refer to this link for news on these banks consolidation published and posted by Business World last June 29: http://www.bworldonline.com/content.php?section=Finance&title=Bank-consolidation-OK’d&id=33899