Rural Bank of Solano (N.V.) Incorporated

Rural Bank of Solano (N.V.) Inc. was incorporated and registered with the Philippine Securities and Exchange Commission (SEC) on December 11, 1969 with Registration No. 39997. On February 27, 1970, the Bangko Sentral ng Pilipinas (BSP) granted the Bank its Certificate of Authority to operate as a financial institution. Thereafter, RBS started operations on March 7, 1970.

The Bank's principal office was formed to carry and engage in the business of extending rural credits to small farmers and tenants and to deserving rural industries or enterprises, to have and exercise all authorities and powers, to do and perform all acts, to transact all business which may legally be had or done by rural banks organized under and in accordance with the Rural Bank's Act as it exists or may be amended; and to do all other things incident thereto and necessary and proper in connection with said purposes within such territory, as may be determined by the Monetary Board of the Bangko Sentral ng Pilipinas.

The Bank's products and services are traditional deposits such as regular savings deposits and certificate of time deposits. The Bank also offers various types of loans such as agricultural, commercial/industrial, and various consumer loans and microfinance loans.

With the amendment of the company purpose that now include: sell, solicit or market microinsurance products and render services as insurance agent, provided that such products are issued by life and non-life insurance companies authorized by the Insurance Commission, in accordance with the Bangko Sentral ng Pilipinas rules and regulations. (Amended Articles of Incorporation as of May 4, 2013); the bank now cross-sells Micro Insurance.

The Bank's registered office address is located at Maharlika Highway, Brgy. Poblacion South, Solano, Nueva Vizcaya. The Bank is domiciled in the Philippines.

The three (3) branches and two (2) Branch Lite Units of the Bank are located as follows:

Corporate Governance

An effective Corporate Governance is one of the key facets advocated by the Bangko Sentral ng Pilipinas to promote public confidence and uphold the safety and soundness of the banking system. It is the combination of processes established and executed by the board of directors that are reflected in the organization's structure and how these are managed leading towards achieving goals and objectives. It is the overall management approach of senior executives in giving direction and controlling the entire organization, governance activities, ensure that critical management information reaching the executive team is sufficiently complete, accurate and timely to enable appropriate management decision making, and provide the control mechanisms, thus, ensure that strategies, directions and instructions from management are carried out systematically and effectively.

The Monetary Board has approved in 2017 the amendments to the corporate governance guidelines for BSP supervised financial institutions (BSFIs). Such amendment is aimed at ensuring that the board of directors is composed of a collective mix of individuals who possess the competence and expertise to be able to effectively manage the financial institution, promoting an environment that fosters the critical exchange of views and exercise of objective judgment, and promoting prudence and greater accountability in line with the implementation of continuing reforms in the financial sector. The duties and responsibilities of the board of directors were streamlined highlighting accountabilities in the following areas, to wit:

• Shaping the corporate culture and values;
• Setting out objectives and strategies and oversight on Management's implementation thereof;
• Appointing key members of senior management and control functions;
• Overseeing the corporate governance framework; and
• Adopting a robust risk governance framework. Read More