BSP to strengthen rural banks

​The Bangko Sentral ng Pilipinas (BSP) underscored its commitment to strengthening rural banks’ capital base during the 65th Charter Anniversary Symposium of the Rural Bankers Association of the Philippines held on 22 November 2022.

BSP Monetary Board Member V. Bruce J. Tolentino said that the Rural Bank Strengthening Program (RBSP) is designed to address key issues that rural banks face, including the push for a stronger capital base that is more attuned to the current financial landscape.

The RBSP is anchored on the principle that a safe and sound bank is well-capitalized. The program will help boost rural banks' resilience against shocks, thereby allowing them to adopt better risk management systems, upgrade resources, manage operational costs, meet prudential standards, and accelerate the digitalization of services. 

For more information on the RBSP, visit: bit.ly/rbsp2022