Producers Bank bagged the Land Bank Golden Award during the 46th Recognition of Outstanding Land Bank-Assisted Countryside Financial Institutions (CFIs) and Anniversary Celebration of Land Bank of the Philippines (LBP) on August 28, 2009 held at Diosdado Macapagal Hall, Land Bank Plaza, Malate, Manila.
To be bestowed with the Golden Award, a CFI must be (i) a Hall of Fame Awardee (the Hall of Fame Award is given to a CFI that has been awarden the main award on a national level for 3 years). (ii) with increasing number of small farmers and fisherfols (SFFs) borromers, (iii) with expanded agri-agra loan portfolio and (iv) obtained a total scored of at least 80 points.
Based on the rations of Land Bank, Producers Bank reflected the following performance numbers: (i) total availment rate of 157% with Land Bank, (ii) with total of P721 million agri-agra loans and the (iii) total of 6,782 SFFs assisted.
Finance Secretary and LANDBANK Chairman Gary B. Teves and LANDBANK President and CEO Gilda E. Pico conferred the Golden Awrd and cash award to Mr. Andres M. Cornejo, Chairman and CEO, Mr. Edmundo C. Medrano, Vice Chairman, President and COO and Ms. Filipinas M. Fernandez, Senior Vice President, Branch Management Sector during the awarding ceremony.
Mr. Cornejo shares the Golden Award to the Bank’s stakeholders, officers, employees, creditors and most especially to its clients for their continued patronage all these years.
The Golden Award is a new award which recognizes Hall of Fame awardees that have sustained highly sound and profitable operation throughout the years.
LANDBANK is now on its 11th year of conferring awards to outstanding CFIs which serve as models of excellence in rural financial services.